June 9, 2020 / 7:52 AM / 23 days ago

A quarter of German companies needed liquidity aid in May: Ifo

BERLIN (Reuters) - Around a quarter of German companies needed liquidity aid last month, the Ifo economic institute said on Tuesday, as Europe’s largest economy is struggling with the impact of the coronavirus pandemic despite a gradual easing of social distancing measures.

Some 24% of companies polled needed aid in May - unchanged from April, Ifo said.

The survey showed that 85% of travel agencies and tour operators accepted aid compared with 17% in the industrial sector and 5% in construction.

Reporting by Thomas Seythal; Editing by Michelle Martin

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