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German DIHK Chambers of Industry and Commerce is out with its latest business sentiment survey, with the key takeaways noted below.

60% of firms are suffering from reduced demand, 43% facing cancelled orders.

More than a third of firms have had to slash investments.

Almost half of all German companies had to partly or completely stop business during lockdown.

A quarter of these companies re-started business when lockdown was eased at end of April.

Of the businesses that are currently still closed, 80% expect to be able to re-start operations immediately or within next two weeks.

80% of companies see decline in revenues in full year – industry, construction and services all affected, with a quarter expecting a drop of more than 50%.

More than a third of companies only expect to return to their previous business level in 2021 at the earliest, 1 in 20 firms never expects to get back to that level.

One third of restaurants and almost half of travel firms fear insolvency.