BERLIN (Reuters) - More than half of German manufacturers consider an upturn in nominal revenue as realistic only next year after taking a more pessimistic outlook for 2024, a survey by the VDMA association showed on Thursday.
Around 40% expect revenue to fall in the current year, while 23% expect them to stagnate, according to the VDMA.
"Quite a few companies had pinned their hopes on a positive second half of 2024. However, in terms of incoming orders, these hopes have not materialised for many," said VDMA economic analyst Ralph Wiechers.
Some 22% of the 932 companies surveyed expect a decline in investment this year due to a lack of planning security and a reliable economic and political environment, according to the VDMA. More than half expect to increase investments in 2025.
The overall picture has tended more towards the negative, said Wiechers. Almost a third of companies rate their situation as "bad" or "very bad", while 29% rate it "good" or "very good".
He added that a slight majority of companies had been more optimistic at the beginning of the year.