Twenty-one percent even expected their revenues to drop by more than a half, according to the survey among around 8,500 German companies. The business situation fell to its lowest level since the survey began in 1985, according to DIHK.
"These figures show the current great uncertainty of our companies," said DIHK managing director Martin Wansleben. German companies were "very concerned that their business is not getting back on track quickly, although the shutdown has been eased in Germany and other partner countries."
According to DIHK, the company survey confirmed the forecast of an economic slump of 10 percent this year. "The way out of the valley becomes longer rather than shorter."
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