Fewer German companies concerned about coronavirus impact: survey

Fewer German companies were concerned about COVID-19 than last month, according to a follow-up survey by auditing and consulting services company PwC Germany published on Wednesday.

Only 56 percent of chief financial officers (CFOs) of German companies said that COVID-19 had the potential for "significant impact" to their business operations, according to the survey. In March, the figure had been significantly higher at 79 percent.

Overall, German CFOs were "sharing positive indicators, showing that they are starting to work on pragmatic moving forward strategies where possible," PwC Germany noted.

More than one in four German CFOs described COVID-19 as an "isolated challenge" and not greatly impacting their company's current business activities, according to the survey sent to Xinhua.

The survey found that, with 72 percent, the most common concern about COVID-19 were negative financial impacts to business results, liquidity and capital resources.

Many German companies, or 69 percent, were worried about a "potential global recession," followed by 44 percent that were concerned about supply chain issues, according to the survey.

As a result of COVID-19, German companies were "most likely to be deferring or cancelling planned investments," PwC Germany noted.