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Survey – 56 percent of companies suffer from virus crisis By Reuters

© Reuters. Ifo survey – 56 percent of companies suffer from a virus crisis

Berlin, March 12 (Reuters) – More than every second company in Germany is already suffering from the consequences of the coronavirus epidemic. 56.2 percent are currently feeling negative effects, according to a survey published by the Ifo Institute on Thursday among just under 3,400 companies in industry and trade as well as among service providers. The worst is the situation for tour operators and travel agencies: almost 96 percent are affected. The figure is 79 percent in the hospitality industry. There are also a few winners: 2.2 percent report a positive impact.

In the export-dependent industry, the proportion of companies affected negatively was 63 percent. More than three quarters of them complain that business trips are canceled or delayed. The supply of preliminary products or raw materials causes difficulties for 52.0 percent of the industrial companies concerned. Business with foreign subsidiaries is impaired at 46.3 percent, while 44.1 percent feel a decline in demand. Companies in the electrical, mechanical engineering, furniture and chemical industries are most affected.

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