The current economic crisis is less daunting to German companies than the one triggered by the coronavirus pandemic, new research released by Germany's Ifo Institute showed on Monday.
Around 7.5 per cent of businesses say that they see their existence threatened, compared to 21.8 per cent in June 2020, according to the survey. "In light of the strong economic slowdown, companies are showing themselves to be very robust," Ifo expert Klaus Wohlrabe said.
The number of companies currently fearing for their future is slightly higher than in April, when 7.1 per cent of companies felt threatened. The retail sector is particularly hard hit at the moment, with 11.6 per cent expressing fears they might not survive.
"The current inflation dynamics are a major concern for retailers," Wohlrabe said. "Higher energy prices have led to a slight increase in existential anxiety, especially in energy-intensive sectors."
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