3/5, 11:14 AM (Source: TeleTrader)
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DIHK: Firms mostly expect business to worsen in 2021

The Association of German Chambers of Industry and Commerce (DIHK) revealed on Friday the majority of the country's internationally active companies expected global business trends to worsen in 2021 amid the ongoing COVID-19 pandemic.

The organization's survey showed only 17% of firms believed the conditions would improve throughout the year. The DIHK noted the companies mostly fear trade barriers, increased safety checks, and tariffs emerging from the pandemic.

The forecast comes shortly after Bundesbank President Jens Weidman predicted Germany's aggregate economic activity would drop in the first quarter of the year.

Breaking the News / JR