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German economic sentiment continues to wane in September 2023: ifo

25 Sep '23
1 min read
Pic: Shutterstock
Pic: Shutterstock

Insights

  • The ifo Business Climate Index for Germany decreased to 85.7 points in September 2023, indicating worsening sentiment among companies.
  • However, slight improvements in the country's manufacturing sector and less pessimistic future expectations in trade suggest the German economy may have reached its lowest point and could be on a path to recovery.
Sentiment in the German economy has taken another hit, according to the latest ifo Business Climate Index, which slid to 85.7 points in September 2023 from a seasonally adjusted 85.8 points in August 2023. Companies expressed less satisfaction with their current business situation, although the mood for the coming months showed a marginal improvement. These factors seem to suggest that the German economy has reached its lowest point and might be on the path to recovery.

In the manufacturing sector, the Business Climate Index experienced a slight uptick. Companies reported being somewhat more content with their present conditions, but their expectations for the future declined slightly, maintaining an overall pessimistic outlook. However, the contraction in order books appears to be slowing down, signalling a potentially stabilising manufacturing sector.

The trade index also rose, largely due to less pessimistic expectations for the future. Despite this positive note, trading businesses indicated that they were less satisfied with their current business situation than before, as per ifo.

ALCHEMPro News Desk (DP)
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