• Analytics
  • News and Tools
  • Market News
  • Quick recovery of German economy "off the table" - DIHK
Quick recovery of German economy "off the table" - DIHK
30.06.2020, 09:45

Quick recovery of German economy "off the table" - DIHK

Reuters reports that a V-shaped recovery of the German economy from the impact of the coronavirus pandemic is unlikely, with two thirds of companies expecting a return to normalcy in 2021 at the earliest, business association DIHK said on Tuesday.

"The V is off the table," DIHK said, adding that its survey of 8,500 companies confirms its forecast for a 10% slump in Germany's economy this year.

The association added that four out of five companies expect their sales to decline this year. "These numbers show the great uncertainty among our companies."

Germany is planning to implement stimulus measures worth more than 130 billion euros ($146 billion) overall to cushion the blow of the pandemic, including a temporary cut in value-added tax and funds to rescue small firms from bankruptcy.

DIHK said bridging aid and stimulus measures were important but cautioned: "Nothing is more important for companies than the chance to be able to generate sales again."

© 2000-2020. All rights reserved.

This site is managed by Teletrade D.J. Limited 20599 IBC 2012 (First Floor, First St. Vincent Bank Ltd Building, James Street, Kingstown, St. Vincent and the Grenadines).

The information on this website is for informational purposes only and does not constitute any investment advice.

AML Website Summary

Risk Disclosure

Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.

Privacy Policy

Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.

Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.

Feedback
Live Chat E-mail
Up
Choose your language / location