ifo Institute: Coronavirus Crisis Threatens Survival of 15 Percent of German Companies

The coronavirus crisis threatens the survival of 15 percent of German companies, according to their responses to the ifo Business Survey for November. “That’s an improvement over June, when the figure was 21 percent,” says Klaus Wohlrabe, Head of Surveys at ifo. “Nevertheless, 86 percent of travel agencies and tour operators currently feel threatened, as do 76 percent of hotels and 62 percent of restaurants.”

In the advertising industry, 27 percent see themselves at risk, while in freight forwarding the figure is just under 14 percent. At the lower end of the scale are IT service providers at 5 percent and legal and tax consultants at 3 percent. On average, the survival of 19 percent of service providers is threatened (June: 27 percent).

In trade, the figure is 14 percent (June: 18 percent), with 18 percent currently in retail and 10 percent in wholesale.

The figure in manufacturing is 11 percent, down from 17 percent in June. At present, manufacturers of basic metals are particularly affected at 34 percent, with printing houses at 29 percent, beverage producers at 22 percent, the textile industry at 20 percent, and the clothing industry at 18 percent. The chemical industry and the pharmaceutical industry see themselves as less affected, at 1 percent and 0 percent respectively.

In construction, the figure is 4 percent. Although this is twice as high as in June, it is still a low level.