The business climate in industry has improved noticeably since the start of the year. Nevertheless, almost all sectors remain in negative territory and are still predominantly pessimistic about the future, ifo said in a press release.
Sentiment in the chemical industry deteriorated particularly in October and November. Overall, the indicator fell by 8.6 points.
“Companies are taking a sober and concerned view of economic development,” said Klaus Wohlrabe, head of ifo Surveys. “We are seeing a stabilisation of the business climate driven only by expectations, and the euphoria from the start of the year has already faded again.”
Sentiment in trade recovered somewhat but remained at a very low level at the end of the year and was worse overall than in previous years. Sentiment in warehousing and storage improved significantly by 13.1 points.
“Overall, it is evident across all sectors of the economy that it would be wrong to speak of a recovery,” added Wohlrabe.
ALCHEMPro News Desk (SG)
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