Georg Steinberger, chairman of DMASS, said, “With the second wave of the COVID-19 pandemic now rolling over Europe and many countries going for anything between full and soft lockdown, it is hard to interpret what these numbers really mean, but it will be even harder to predict what will happen in Q4 and in 2021.
The figures for the third quarter displayed every scenario at the national level, from growth of 17% to a fall of 30% in some markets. Germany, France and Italy registered declines around or slightly above the average, while the UK dropped by a hefty 27.4% to 116mn Euros.
While these declines are concerning and few single product categories saw any growth, Steinberger suggested that there were growing hopes of recovery for 2021.
“It may take a while until it starts. Hopefully, some political developments can help global and European trade pick up speed again, provided society gets control over the situation.”
That’s certainly a big ask, but after the events of last week, not one without hope.
