The mood in the German economy deteriorated again in September. The Ifo business climate fell by 1.2 points to 85.4 points, according to the Ifo Institute in Munich. This is the fourth consecutive decline in the most important German economic barometer and the lowest level since January.
Economists had expected a further dampener in sentiment, but on average had assumed a weaker dampener to 86 points.
“The German economy is coming under increasing pressure,” commented Ifo President Clemens Fuest. Companies were less satisfied with current business in particular. In the manufacturing sector, sentiment had fallen to its lowest level since summer 2020, said Fuest.
The approximately 9,000 companies surveyed by the Ifo Institute again rated the prospects for their future business as worse overall. The assessment of the current situation was also weaker than in the previous month.
© dpa-infocom, dpa:240924-930-241653/1
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