Ifo German business climate index remains at low level in October
Business confidence in Germany fell slightly in October, remaining at a very low level, as companies expect a challenging winter due to the energy crisis.
The Ifo business-climate index fell to 84.3 points in October from a revised reading of 84.4 points in September, data from the Ifo Institute showed Tuesday. This is its lowest value since May 2020. Economists polled by The Wall Street Journal had expected the index to come in at 83.6. "The German economy is facing a difficult winter," Ifo President Clemens Fuest said. Companies were less satisfied with their current business, while their expectations improved, he said.
The index of the current situation fell to 94.1 in October from 94.5 in September, while the gauge assessing companies' expectations rose to 75.6 from 75.3. The Ifo index is based on a poll of about 9,000 companies in manufacturing, services, trade and construction. The decline in confidence is affecting mainly manufacturing and construction, the report shows.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Angelina Jolie Will Take to the Stage in a Maria Callas BiopicReferred to as “the Bible of opera” by Leonard Bernstein, the Greek-American Callas is perhaps the most famous opera singer of the 20th century.
Read more »
Family, friends to honor late artist with altar at Dia de Los Muertos FestivalMaria Ibarra was a teacher at Edison High School and a huge part of the theater community.
Read more »
FEMA Avoids Past Pitfalls by Rushing Storm Aid to Puerto RicoSince Hurricane Fiona hit Puerto Rico, FEMA has approved disaster aid for thousands more individuals and households than received aid after Hurricane Maria in 2017
Read more »
Amid inflation, Stew Leonard serves up smart shopping tips to slash costs for your holiday mealStew Leonard, president and CEO of Stew Leonard's grocery stores, joined 'Mornings with Maria' Monday to discuss inflation and ways to cut costs for holiday meals.
Read more »
Sakkari wins rain-delayed semi-final to reach Guadalajara finalGreek fourth seed Maria Sakkari beat Marie Bouzkova 7-5 6-4 in a rain delayed semi-final at the Guadalajara Open and will play American Jessica Pegula later on Sunday in the final.
Read more »