German business sentiment declines

Brussels – The German business sentiment in the economy declined. In November, the Ifo Institute’s Business Climate index stood at 85.7 points, down from 86.5 points in October. This decrease, explains the Munich Institute, is “due mainly to the worse assessment of the current situation.”

Specifically, there is awareness that “the German economy is struggling,” and, as a result, “expectations have slightly declined.” Specifically in the manufacturing sector, the business climate worsened, with firms more skeptical about the months ahead. Even for the tertiary sector, the Business Climate Index “fell significantly.” Companies active in the service sector rate the current situation as “significantly worse.” The climate “deteriorated significantly” also in the construction sector.