German companies are more optimistic about business abroad – survey

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FILE PHOTO: The skyline with its financial district amid the outbreak of the coronavirus disease (COVID-19) in Frankfurt

BERLIN – German firms are more optimistic about business conditions abroad than they were in the spring, a survey by the DIHK Chambers of Industry and Commerce showed on Thursday.

Some 52% of the more than 3,200 companies with offices abroad said they were satisfied with their business abroad, and 56% said they expected conditions to improve over the next 12 months.

Despite reporting improved business conditions, 50% of surveyed firms cited higher energy and raw material prices as risks to the global economy over the next 12 months.

The companies also said they expected economic activity in China and the United States to deteriorate, the survey showed.

The share of companies citing supply bottlenecks as a risk rose to 54% from 40% in the spring.

(Reporting by Christian Kraemer; writing by Joseph Nasr; Editing by Maria Sheahan)