The economy has been alarmed for months by the consequences of the corona pandemic. A survey by the Ifo Institute among German companies reveals the whole drama: 21 percent of those surveyed consider their situation to be existential, especially for service providers.
According to a survey by the Ifo Institute, a good fifth of German companies see their survival at risk from the Corona crisis. 21 percent of the companies surveyed had described the impairments caused by Corona in June as existential. "An insolvency wave could begin in the coming months," warned Ifo researcher Stefan Sauer. This particularly affects the service providers, of which 27 percent would have classified themselves as at risk.
It was 18 percent in retail, 17 in industry and only 2 percent in construction. Travel agencies and tour operators rated the situation particularly difficult, of which 85 percent consider their existence to be threatened. In the hotels it was 76 percent and in the restaurants 67 percent. But 55 percent of creative people, artists and entertainers were also concerned about their future. This was followed by shipping with 50 percent and the film industry with 48 percent.
In industry, it was primarily the metal producers and workers who thought 53 percent of them were at risk. This was followed by the textile manufacturers with 38 percent, the printing industry with 28 percent, the leather industry with 27 percent and the car manufacturers and their suppliers with 26 percent. Retailers are particularly affected with 21 percent, wholesalers with 15 percent less.
According to the Federal Statistical Office, there are signs of hope for industry, which received significantly more orders in May. The order intake was 10.4 percent above the level of the previous month. By contrast, orders were still down drastically by 29.3 percent year-on-year. Despite the recovery, market expectations were disappointed. On average, analysts had expected a higher month-on-month increase and a smaller year-on-year decrease.
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