According to a study published on Monday by the German Ifo Institute, cited by dpa and Agerpres, the current economic crisis is less worrying for German companies than the one triggered by the coronavirus pandemic.
About 7.5% of businesses believe their existence is at risk, up from 21.8% in June 2020, according to this study.
“In light of the sharp decline in economic growth, companies are showing themselves to be very strong,” said Ifo expert Klaus Wohlrabe. The number of companies that fear for their future is now slightly higher than in April, when 7.1% of companies felt threatened .
The retail sector was particularly affected, with 11.6% of companies expressing fears that they may not survive.
“The current dynamics of inflation is a serious concern for retailers,” Wohlrabe noted.
According to him, “higher energy prices have led to a slight increase in existential angst, especially in energy-intensive sectors.”
In October, Germany recorded the highest level of inflation in the last 70 years amid already high fears that the economy will enter a recession.
Source: Hot News RO
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