BERLIN (Reuters) – Far fewer German businesses feel their survival is at risk than at the height of the COVID-19 pandemic, a survey by the Ifo economic institute showed on Monday.
The survey of nearly 7,000 businesses, conducted between October 4 and 24, found that 7.5% believe their economic survival is at risk.
“At the height of the pandemic, these numbers were much higher — 21.8 percent. In the conditions of a sharp slowdown in the economy, companies are proving to be very durable,” Klaus Wohlrabe, head of the Ifo survey, said in a statement.
At the same time, he added that in the field of retail trade, 11.6% of companies reported a situation that threatens their survival.
“The current level of inflation is a serious challenge for retailers,” Wohlrabe added.
German consumer prices, harmonized for comparison with other European Union countries, rose 11.6% from a year ago and rose 1.1% month-on-month in October, preliminary data from the Federal Statistical Office showed on Friday.
In addition, the number of large enterprises established from January to August 2022 decreased by 6.6% compared to the same period a year earlier, according to the Federal Statistical Office.
The number of established small enterprises is 5.6% higher than last year, it added.
(Writing by Paul Carrell Editing by Miranda Murray)