Bavarian economy recovers

Bavarian companies regain hope after corona-induced crash in spring. The economic index of the bavarian chamber of industry and commerce has jumped from 81 to 107 points since may, as BIHK chief executive manfred gobl said in munich on tuesday. This means that the figure is only just below the long-term average.

"The bavarian economy has recovered faster than expected from the corona shock. More than two-thirds of the way back to the pre-crisis level has already been covered", said gobl. However, a full recovery to pre-crisis levels is not expected until 2022 at the earliest.

"The V is dead", he stressed, referring to the V-shaped recovery in which a steep drop is followed by an equally steep rise. "We now have half a V and are noticing a slackening of momentum." The ahnele of a mirrored root sign. In the meantime, 44 percent of companies expect their sales to remain roughly constant or even increase in the current year. However, seven percent also expect sales to fall by more than half. Dpa

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