September 28, 2023

Bobbys Brane

Bobbys Brane – Business & Tech Blog

German business sentiment worsens further in August

1 min read

© Reuters. FILE PHOTO: Birds are seen over the skyline as the sun rises in Frankfurt, Germany, September 22, 2022. REUTERS/Kai Pfaffenbach

BERLIN (Reuters) – German business morale deteriorated further in August for the fourth month in a row, a survey showed on Friday.

The Ifo institute said its business climate index stood at 85.7 following a reading of 87.4 in July. Analysts polled by Reuters had forecast a reading of 86.7.

Assessments of the current situation fell to their lowest level since August 2020 and companies expectations are also increasingly pessimistic.

“The German economy is not out of the woods yet,” Ifo president Clemens Fuest said.

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