German companies hoard 765 billion euros

Company cash reserves

Fearing the downturn, companies are making provisions.

(Photo: Glowimages / vario images, obs,)

Dusseldorf Worried about a recession, companies in Germany have accumulated 765 billion euros in cash and short-term deposits – more than ever before. That is almost 50 billion euros more than in the previous year, when companies had already paid attention to their liquidity because of the corona crisis.

This is shown by data from the international law firm Freshfields, which is exclusively available to the Handelsblatt. This is based on statistics from the Bundesbank and the European Central Bank on the deposits of more than one million companies.

When the latest quarterly figures were presented, it became clear that many companies were rather pessimistic about the coming year. Even corporations such as Infineon and Deutsche Post, which had significantly raised their forecasts for the current year, are currently only daring to give a cautious outlook.

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