GERMANY: A third of manufacturers fear business losses from Brexit

Over a third of German manufacturers fear that a Brexit will negatively impact their business. The exact figure is 38%, according to data released by the Ifo Institute on Wednesday. 61% of the manufacturers surveyed, by contrast, expect a Brexit to have no effect on their activities, while just 1% expects its impact to be positive.

 
Large companies with 500+ employees were particularly anxious about the referendum outcome and 53% expect a Brexit to negatively impact their operations. For manufacturers in the export business, the figure is 41%, which is slightly higher than the overall average.
The share of companies in the electronics industry that fear the negative impact of a Brexit (52%) is notably higher than the average. The corresponding share is 49% in the automotive industry, 45% in the metals branch and 43% in equipment manufacturing. In the chemicals segment this figure (39%) is only slightly higher than the average for manufacturing as a whole, while figures are below average for the food, beverages and tobacco industry (28%), as well as for textiles, clothing and leather goods (21%).
Between 6 June and 21 June 2016 the Ifo Institute polled 1,478 manufacturers in Germany on the impact of a Brexit as part of its Business Survey.