German companies are expecting big things from next year, despite all the concerns about new coronavirus variants and supply chain shortages. That's according to the latest annual survey by the Cologne Institute for Economic Research.
They asked 48 business asscociations - representing almost 3-thousand companies - about their prospects for 2022. 39 say they expect higher production or business activity next year. The other 9 say things are going to be unchanged. Not a single association expects their sector to be worse off.
A wide variety of industries are optimistic. Among them are machine and plant manufacturers, retailers, IT firms banking on more security contracts. And last but not least construction and the pharmaceutical sector.
However, when it comes to creating new jobs, the survey is not quite as bullish. Only 21 out of the 48 associations say their sectors will hire more people: among them manufacturers of electronic equipment and craftworkers. 19 say the number of employees will remain the same while 8 plan to cut staff.
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