Survey: Companies expect improvement over the next six months
According to a survey, the business of German car manufacturers and their suppliers was worse at the end of 2020. In December, they rated their current situation with minus 5.4 points, after plus 5.0 points in November, as the Ifo Institute announced on Tuesday for its economic survey.
At the same time, the companies surveyed expect the situation to improve over the next six months: The value for expectations rose to plus 10.1 points, after minus 1.6 points in November. “The car manufacturers and their suppliers are feeling the renewed lockdown, but they are relying on catch-up effects,” said Ifo expert Klaus Wohlrabe.
The company's production expectations plummeted, from minus 0.7 to minus 20.6 points. In contrast, export expectations rose slightly from minus 4.0 to minus 2.5. The number of jobs is likely to fall further: this indicator fell to minus 35.2 points.
