German businesses retain pessimistic view towards the year ahead - survey

35% of businesses polled had negative expectations for next year, according to the Cologne Institute for Economic Research

Justin Low

Monday, 04/12/2023 | 11:38 GMT

Only 23% of companies were optimistic about prospects for the year ahead
35% of businesses expect to employ fewer people next year
Only 20% of firms expect employment to increase in the year ahead

The survey also highlights the continued struggle in Germany's industrial and construction sectors. For the former, only 25% of companies are expecting an increase in production while 38% were expecting a drop next year. For the latter, only 13% expect an increase in output while 54% expect a decline in output for the year ahead.