A survey conducted by Germany’s highly-influential economic institute, IFO, showed on Monday, “far fewer German businesses feel their survival is at risk now than at the height of the COVID-19 pandemic.”

“7.5% felt their economic survival is threatened,” the survey findings revealed.

Klaus Wohlrabe, head of surveys at IFO, said that “At the height of the pandemic, these numbers were much higher, at 21.8 percent. In the face of a sharp economic slowdown, companies are proving to be very robust.”

“The current rate of inflation is a major concern for retailers,” Wohlrabe added.

Market reaction

The above findings have little to no impact on the EUR market, as EUR/USD sheds 0.41% on the day to trade at 0.9920, as of writing.