German electronics industry is optimistic before demand increase from China
The Covid-19 health emergency has had critical effects on world economies. Germany seeks to keep growing
German companies in the electronics industry were optimistic about the second half of the year, thanks to the recent increase in demand from China, according to the results of a survey published today by the industrial association ZVEI.
According to survey data, the industry recovered somewhat in May after the initial relaxation of restrictions related to the new coronavirus pandemic.
However, it is clear that the crisis will leave significant negative consequences on the annual results. According to the report, the industry may expect sales losses of around ten percent.
In addition, close to 90 percent of participating companies reported inconveniences due to disruption of supply chains, while 40 percent reduced their production capacity and around 20 percent of employees were still working part-time.
Source: dpa
