German Firms Now More Pessimistic Than At Peak of COVID-19

A new Volkswagen ID.3 electric car in a fully automatic high-bay-rack for delivery by the German automaker at the "Autostadt" in Wolfsburg, Germany, on Sept. 11, 2020. Annegret Hilse/Reuters

Businesses in Germany are becoming less confident about their economic future, according to a survey conducted by the Association of German Chambers of Industry and Commerce (DIHK).

Among the over 24,000 companies that took part in the survey, 52 percent are expecting their business to deteriorate over the next 12 months, with only 8 percent expecting an improvement, a DIHK Nov. 2 post said.