The false start to the vaccination and the renewed spread of the corona virus are affecting the mood in German companies.
Munich - The intensified
corona
pandemic has surprisingly clouded the mood in companies in Germany.
In January the
Ifo business climate
fell
by 2.1 points to 90.1 points compared to the month, as the
Ifo
Institute announced on Monday in
Munich
.
Analysts had only expected a minus to 91.4 points on average.
In December, after two declines in a row, German companies looked a little more confidently ahead.
Now the mood barometer has given way again.
"The second
Corona
wave temporarily put an end to the recovery of the German economy," commented
Ifo
President
Clemens Fuest on
the result of the survey among around 9,000 companies.
Both the current situation and the outlook for the next six months were rated worse by the companies surveyed.
In the area of services, the indicator for the business climate has fallen “noticeably”, it said.
The sector is being hit particularly hard by the measures taken to contain the pandemic.
In the area of trading, the corresponding index value almost plummeted, from plus 0.3 points in December to minus 17.2 points in January.
"The mood deteriorated, sometimes massively, in almost all retail sectors," emphasized the
Ifo
.
But also in the
manufacturing industry
, most recently a pillar of the German economy in the second Corona wave, the index value has fallen again after eight increases in a row.
The
business climate has also
deteriorated
in the previously robust construction industry
.
Ifo business climate: "Business is disillusioned"
"At the beginning of the year disillusionment spreads among German companies," said
Michael Holstein
, chief economist at
DZ Bank
.
The effects of the stricter measures to contain the pandemic have now become apparent, said
Carsten Brzeski
, Chief Economist Germany at Bank
ING
.
For
Uwe Burkert
, chief economist of the
Landesbank Baden-Württemberg
, the setback in business expectations is particularly worrying: "That scratches the scenario that the vaccination progress will bring significant relief by summer."
In view of the faltering state aid for closed companies, Fuest spoke out in favor of more flexible instruments.
“You could cut the tax prepayments from last year
across the board
and help the companies,” he said in the
ZDF
morning magazine.
The tax offices, which have contacts to all companies, could be included for this purpose.
Ifo business climate: Institute head Fuest warns of complete lockdown
Fuest warned of a radical lockdown including closed industrial plants.
“It would be madness to shut down the industry now.” You shouldn't do that under any circumstances.
"We have to keep the industry open, we cannot afford an economic collapse." It would have to be possible to continue to provide aid for the closed areas.
“Where else is that supposed to come from?” Said Fuest.
The corona crisis does not necessarily have to lead to a wave of bankruptcies.
The industries affected are limited.
"Of course there will be more bankruptcies," said the Ifo President.
"But we can get through this pandemic without a massive wave of bankruptcies if we approach it right." (
Dpa
)
