Innovation expenditure by German companies rose again in 2019, reaching an all-time high of 176.9 billion euros. More and more companies are showing perseverance when it comes to innovation. Compared to the previous year, the share of companies that are continuously active in research and development increased significantly by eight per cent in 2019. This shows that companies are investing in new technologies, products and processes for the long term. The target figures for 2020, which were submitted midyear, are still relatively stable in light of the pandemic. Despite COVID-19, companies in Germany estimate that there will only be a small decrease in innovation spending of 2.2 per cent in contrast to 2019. This is a moderate cut, considering that the decline in economic output in Germany is forecast to be more than five per cent.