Companies in crisis

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Pages

6

Publisher

ASTRAN Business Consulting GmbH

Release date

2021

SKU: IN21-1360 Categories: ,

Description

The Corona pandemic has left its mark. According to calculations by the IW (Institute of the German Economy), GDP will shrink by a total of 300 billion euros between January 2020 and June 2021. The calculation is based on modeling an intact economy without Corona and comparing it with current economic development. During the first lockdown in spring 2020, a loss of around 100 billion euros was incurred. Furthermore, there are 140 billion euros in losses between the lockdown in the fall of 2020 and the end of June 2021. It is not only the closure of retail outlets, restaurants, hotels and cultural institutions that is responsible for the enormous slump, but also indirect consequential costs: car manufacturers had to stop assembly lines in several European plants, for example, because semi-finished workers were in short supply. Without these, technical components such as digital speedometers are impossible to manufacture. The standstill in production in all areas is having an impact on the economy.