FRANKFURT, Oct. 23 (Xinhua) -- Nearly half of German companies expect their business prospects over the next three to six months to be poor or very poor, according to a works council survey published by Germany's major trade union IG Metall on Thursday.
The survey covered 2,623 companies across sectors such as machinery, automotive, electrical engineering and IT, representing more than 1.3 million employees nationwide.
Large parts of Germany's industrial sector remain stuck in an economic slump, IG Metall said in a press release. About 47 percent of the surveyed companies described their outlook as negative, compared to 45 percent that expressed optimism.
High energy prices continue to weigh on the competitiveness of German companies, with industries such as steel, metal production, and vehicle manufacturing bearing the brunt.
U.S. tariffs are exacerbating the trend of job relocations abroad, particularly in the steel, metal production, and automotive industries. According to IG Metall, around 20 percent of companies are considering moving jobs to the U.S., while another eight percent have already drawn up concrete relocation plans.
The survey also revealed widespread concern about job security in many industrial firms. More than half of company unions expect employment to remain unstable in the coming years.
Job security is particularly weak among automakers and in the steel industry, with only 31 percent of car manufacturers and 41 percent of steel companies expressing confidence in their employment outlook. ■
