ifo index slips as German firms grow doubtful about recovery

The trade sector recorded a clear deterioration, with firms viewing their current situation as somewhat worse and expectations declining further. Retailers were particularly disappointed with the start of the Christmas season, Clemens Fuest, president of the ifo institute, noted in a press release.

There was a noticeable setback in the transport and logistics sector as well.

Manufacturing also weakened, with expectations taking a significant hit as companies grew more sceptical about the coming months and reported lower order books, even though current business conditions improved slightly.

ALCHEMPro News Desk (MS)