Thursday, October 6, 2022

Germany’s partial lockdown is hitting skilled trades sector: ZDH By Reuters


© Reuters. Wollseifer head of the German central association of craftsmanship addresses a news conference in Berlin

BERLIN (Reuters) – The COVID-19 pandemic and measures imposed by the government to slow the spread of the coronavirus are hurting the skilled trades sector, which expects sales to drop this year for the first time since 2013, the ZDH association said on Thursday.

“The partial lockdown is also hitting many craft businesses hard,” ZDH President Peter Wollseifer told Reuters, adding that many companies were struggling with weaker demand and sales.

“The order backlog is largely well below the level that is otherwise typical for the time of year,” he added.

The ZDH association expects nominal sales in the skilled trades sector to fall by 4% this year. That would be the first sales drop in seven years.

Liquidity at many small firms has deteriorated since the start of the partial lockdown on Nov. 2 which forced bars, restaurants and entertainment venues to close until the end of the month, Wollseifer said.

“For many companies, the financial perspective is uncertain. Almost every second company expects increasing financial bottlenecks,” he added.

Germany’s ZDB construction association said on Tuesday it expected nominal sales to fall for the first time in more than a decade next year as companies in Europe’s largest economy are scaling back building activity due to the pandemic.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Source link


Please enter your comment!
Please enter your name here



Related Stories