HomeLive CommentsGermany Ifo ticked down, but economy appears to have bottomed out

Germany Ifo ticked down, but economy appears to have bottomed out

Germany’s Ifo Business Climate Index for September recorded a slight dip, moving from 85.8 to 85.7, though it outperformed expectation of 85.2. Current Assessment Index recorded a fall from 89.0 to 88.7, still surpassing forecasted 88.0. Contrastingly, Expectations Index noted an increment, shifting from 82.7 to 82.9, a touch above projected 82.8.

A sectoral breakdown revealed that manufacturing experienced a downturn from -13.8 to -16.6. Services sector witnessed a decline from a positive 1.0 to a negative score of -4.1. Additionally, trade and construction sectors marked declines, moving from -23.7 to -25.6 and from -24.6 to -29.8, respectively.

A statement from Ifo encapsulated the sentiment by saying, “pessimism regarding the coming months dissipated slightly. The German economy appears to have bottomed out.”

 

Full German Ifo release here.

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