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Business Surveys in Focus: Coronavirus Crisis Strikes German Economy with Full Fury

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  • Simon Litsche
  • Stefan Sauer
  • Klaus Wohlrabe

Abstract

Sentiment in the German economy is currently catastrophic in view of the coronavirus crisis. This is also reflected in the crash of the ifo Business Climate Index Germany to a historic low in April. The answers to special questions on the effects of the coronavirus crisis on companies’ current business situation and their sales were also very negative. In addition to some particularly affected industries, such as restaurants and catering, accommodation, and travel, the results show that some industrial sectors, and in particular vehicle construction, are also being severely affected. As a reaction to the crisis, half of all German companies have already introduced short-time work.

Suggested Citation

  • Simon Litsche & Stefan Sauer & Klaus Wohlrabe, 2020. "Business Surveys in Focus: Coronavirus Crisis Strikes German Economy with Full Fury," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 73(05), pages 57-61, May.
    • Handle: RePEc:ces:ifosdt:v:73:y:2020:i:05:p:57-61
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    References listed on IDEAS

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    1. Stefan Sauer & Klaus Wohlrabe, 2018. "The New ifo Business Climate Index for Germany," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 71(07), pages 54-60, April.
    2. Stefan Sauer & Klaus Wohlrabe, 2020. "ifo Handbuch der Konjunkturumfragen," ifo Beiträge zur Wirtschaftsforschung, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, number 88.
    3. Florian Dorn & Clemens Fuest & Marcell Göttert & Carla Krolage & Stefan Lautenbacher & Sebastian Link & Andreas Peichl & Magnus Reif & Stefan Sauer & Marc Stöckli & Klaus Wohlrabe & Timo Wollmershäuse, 2020. "The Economic Costs of the Coronavirus Shutdown for Germany: A Scenario Calculation," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 73(04), pages 29-35, April.
    4. Stefan Sauer & Klaus Wohlrabe, 2020. "Business Survey in Focus: German Economy in Coronavirus Shock," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 73(04), pages 44-47, April.
    5. Florian Dorn & Clemens Fuest & Marcell Göttert & Carla Krolage & Stefan Lautenbacher & Robert Lehmann & Sebastian Link & Sascha Möhrle & Andreas Peichl & Magnus Reif & Stefan Sauer & Marc Stöckli & Kl, 2020. "Die volkswirtschaftlichen Kosten des Corona-Shutdown für Bayern: Eine Szenarienrechnung," ifo Schnelldienst Digital, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 1(02), March.
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    Cited by:

    1. Jean-Victor Alipour & Oliver Falck & Simone Schüller, 2020. "Working from Home during the Pandemic and the Post-Crisis Implications," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 73(07), pages 30-36, July.
    2. Wohlrabe, Klaus & Rathje, Ann-Christin & Rumscheidt, Sabine & Boumans, Dorine & Hannich, Ute & Heinemann, Friedrich & Birkholz, Carlo & Nover, Justus, 2020. "Die Widerstandsfähigkeit der deutschen Wirtschaft in der Corona-Pandemie: Jahresmonitor der Stiftung Familienunternehmen," Studien, Stiftung Familienunternehmen / Foundation for Family Businesses, number 250011, June.
    3. Werner Hölzl & Michael Böheim & Klaus S. Friesenbichler & Agnes Kügler & Thomas Leoni, 2021. "Staatliche Hilfsmaßnahmen für Unternehmen in der COVID-19-Krise. Eine begleitende Analyse operativer Aspekte und Unternehmenseinschätzungen," WIFO Studies, WIFO, number 66624, April.
    4. Stefan Sauer & Klaus Wohlrabe, 2020. "Focus on Economic Surveys: German Economy Still in a very Difficult Situation, but First Glimmers of Hope," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 73(06), pages 49-51, June.
    5. Klaus Wohlrabe, 2021. "Industries in Focus: Auditing and Tax Consulting," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 74(01), pages 73-75, January.
    6. Lukas Buchheim & Jonas Dovern & Carla Krolage & Sebastian Link, 2020. "Zur Reaktion von Unternehmen auf die Coronakrise: Welche Rolle spielen die erwartete Krisendauer und die Geschäftslage vor der Krise?," ifo Schnelldienst Digital, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 1(08), May.
    7. Demmelhuber Katrin & Sauer Stefan & Wohlrabe Klaus, 2023. "Beyond the Business Climate: Supplementary Questions in the ifo Business Survey," Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), De Gruyter, vol. 243(2), pages 169-182, April.
    8. Julia Freuding & Klaus Wohlrabe, 2021. "Die Dauer der Einschränkungen des öffentlichen Lebens und die Normalisierung der Geschäftslage: Was erwarten die Unternehmen?," ifo Schnelldienst Digital, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 2(4), February.
    9. Stefan Sauer & Klaus Wohlrabe, 2021. "Business Survey in Focus: German Economy Robust Despite Lockdown," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 74(03), pages 56-58, March.
    10. Katrin Demmelhuber & Felix Leiss & Sebastian Link & Andreas Peichl & Klaus Wohlrabe, 2020. "Die Auswirkungen der Coronakrise auf die deutsche Wirtschaft," ifo Schnelldienst Digital, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 1(07), May.
    11. Stefan Sauer & Klaus Wohlrabe, 2020. "Kreditverhandlungen und Liquidität von Unternehmen während der Corona-Pandemie," ifo Schnelldienst Digital, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 1(10), July.

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    More about this item

    Keywords

    Epidemie; Verarbeitendes Gewerbe; Bauwirtschaft; Dienstleistungssektor; Handel; Branchenentwicklung; Geschäftsklima; Deutschland;
    All these keywords.

    JEL classification:

    • L60 - Industrial Organization - - Industry Studies: Manufacturing - - - General
    • L74 - Industrial Organization - - Industry Studies: Primary Products and Construction - - - Construction
    • L80 - Industrial Organization - - Industry Studies: Services - - - General
    • L81 - Industrial Organization - - Industry Studies: Services - - - Retail and Wholesale Trade; e-Commerce

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