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German companies are more optimistic about business abroad

by Mike Robinson

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© Reuters. FILEPHOTO: Frankfurt’s skyline is captured at sunset during the continuing spread of COVID-19, a coronavirus-related disease. This was taken in Frankfurt on October 26, 2020. REUTERS/Kai Pfaffenbach

BERLIN, (Reuters) – German businesses are now more positive about the outlook for business abroad than in the spring according to a DIHK Chambers of Industry and Commerce survey.

Over 3,200 foreign companies had offices worldwide. 52% said that they are satisfied with their overseas business and 56% stated they anticipate conditions improving over the next twelve months.

Although half of respondents reported improved business conditions over the past 12 months, they cited rising energy and commodity prices as threats to global economic growth.

According to the survey, companies said that they expect economic activity to decline in China and America.

From 40% in spring, 54% of firms cited supply bottlenecks to be a threat.

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