The weakness in the manufacturing sector is steering the German economy into turbulent waters. Expectations saw a significant decline, falling to their lowest level since November 2022. The current situation was also assessed as worse; many companies rate their order backlogs as too low, ifo Institute said in a press release.
Transport and logistics in particular are suffering from the negative development in manufacturing.
In trade, too, the index declined. Companies were somewhat less satisfied with their current business. Although expectations improved slightly, they remained largely pessimistic.
ALCHEMPro News Desk (NB)
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