The German chambers of industry and commerce, DIHK, shares their latest outlook of the economy
- V-shaped recovery is likely “off the table”
- Half of German companies sees return to normalcy in 2021 at the earliest
- A third of German companies sees return to normalcy in 2020
- More than 40% of German companies are reporting liquidity shortages
The thing about moving on from the crisis is that the impact will continue to reverberate the longer it takes for the economy – not just Germany, but everywhere else too – to get back on track to pre-virus levels or conditions.
Many businesses and companies may survive for the time being on government stimulus and financial aid, but how long can this situation keep up if demand conditions and consumption activity take a much longer time to get back to “normal”?