BERLIN (Reuters) – The COVID-19 pandemic and measures imposed by the federal government to gradual the unfold of the coronavirus are hurting the expert trades sector, which expects gross sales to drop this 12 months for the primary time since 2013, the ZDH affiliation stated on Thursday.
“The partial lockdown can be hitting many craft companies arduous,” ZDH President Peter Wollseifer informed Reuters, including that many corporations had been combating weaker demand and gross sales.
“The order backlog is basically effectively beneath the extent that’s in any other case typical for the time of 12 months,” he added.
The ZDH affiliation expects nominal gross sales within the expert trades sector to fall by 4% this 12 months. That will be the primary gross sales drop in seven years.
Liquidity at many small corporations has deteriorated for the reason that begin of the partial lockdown on Nov. 2 which pressured bars, eating places and leisure venues to shut till the top of the month, Wollseifer stated.
“For a lot of corporations, the monetary perspective is unsure. Nearly each second firm expects growing monetary bottlenecks,” he added.
Germany’s ZDB development affiliation stated on Tuesday it anticipated nominal gross sales to fall for the primary time in additional than a decade subsequent 12 months as corporations in Europe’s largest economic system are scaling again constructing exercise as a result of pandemic.
Fusion Media or anybody concerned with Fusion Media won’t settle for any legal responsibility for loss or harm on account of reliance on the knowledge together with knowledge, quotes, charts and purchase/promote alerts contained inside this web site. Please be absolutely knowledgeable relating to the dangers and prices related to buying and selling the monetary markets, it is likely one of the riskiest funding types doable.