The mood in the consultancy sector is at a historic low

The corona crisis and the nationwide lockdown have depressed the mood in the consulting industry to unprecedented lows.

This is shown by the Munich-based Ifo Institute's “Handelsblatt” (Tuesday edition) consultant climate among legal and tax advisors and auditors. The seasonally adjusted business climate for the industry was -15,8 points in April, 1,3 points in May and 9,8 points in the middle of the year.

For comparison: The all-time lows for the industry so far came from the summer of 2006 when the index dropped to 12,2 points. However, the mood in the industry has recently recovered. "The area of ​​legal and tax advice as well as auditing seems to be coming through the corona crisis with a black eye," said Ifo expert Klaus Wohlrabe the "Handelsblatt". After all, 38 percent of consultants are currently satisfied with their current business situation, 29 percent have a relatively large order backlog and a good quarter report higher sales than in the previous year. According to the Ifo data, willingness to hire was noticeably lower in the spring. In the meantime, every fifth consulting company is expecting to increase its staff in the coming months. Only a few companies plan to cut staff, the vast majority expect a constant number of employees.

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