Around 40 Percent of German Companies Expect Output Decline in 2023: IW Institute

Around 40 Percent of German Companies Expect Output Decline in 2023: IW Institute
The financial district in Frankfurt, Germany, on March 18, 2019. Ralph Orlowski/Reuters
Reuters
Updated:

BERLIN—Four out of ten German companies expect business to shrink in 2023, a survey by the German Economic Institute (IW) showed on Monday, blaming high energy costs, supply chain issues, and the continuing war in Ukraine.

“The risk of a gas shortage in the 2022/23 winter season is no longer as present as it was in the summer of 2022, and energy prices have also retreated since then. However, they remain at a high level and production disruptions cannot be ruled out,” the IW said in the survey seen by Reuters.