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Business climate index for Germany jumps 86.3 points in Nov 2022: ifo
25 Nov '22
1 min read
Pic: Shutterstock/ esfera
The business climate index of Germany rose to 86.3 points in November, up from 84.5 points in October, which reflects the improvement of business sentiment in the country's economy. While companies were somewhat less satisfied with their current business, pessimism regarding the coming months reduced sharply. The recession could prove less severe than many had expected, according to the Ifo Institute for Economic Research.
In manufacturing, the index rose significantly. Companies were considerably less pessimistic about the future. However, they assessed their current situation as worse. The number of new orders fell again. While uncertainty about future business development remains high, it did fall a little. But in energy-intensive industries, uncertainty rose further, ifo said in a press release.
In trade, the index rose once again. Businesses assessed their current situation as slightly better. Their expectations were noticeably higher. Nevertheless, roughly one in two companies is currently still pessimistic about the next six months.
Fibre2Fashion News Desk (NB)
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