Despite the recent pledge from the European Central Bank to support debt-stressed countries, businesses remain skeptical about the economic impact of the move. Accordingly, the business confidence indicator published by the Ifo Institute fell to 101.4 points in September, which marked the fifth consecutive decline and drove the index to its lowest level since February 2010. The reading came in below the 102.3 points observed in August and disappointed market analysts, who had seen the index rising to 102.5 points. The monthly drop reflected that firms are less optimistic about their current business situation. Simultaneously, the September survey showed businesses' more pessimistic assessment of their economic prospects for the next six-months. According to the Ifo Institute, "the curbing forces on the German economy continue to prevail".
Germany Business Confidence
Business confidence plunges to lowest level in almost three years
September 24, 2012
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Germany Business Confidence Chart
Note: Ifo Business Climate Index, 2000=100.
Source: Ifo Business Survey.
Germany Economic News
October 24, 2016
The Markit Flash Composite Purchasing Managers’ Index (PMI) rose from 52.8 in September to 55.1 in October.
October 10, 2016
The seasonally- and calendar-adjusted trade surplus increased from EUR 19.4 billion in July to EUR 22.2 billion in August, driven up by recovering exports.
October 7, 2016
In August, industrial production rose 2.5% from the previous month in seasonally-adjusted terms, in contrast to July’s large 1.6% drop, which had been the lowest reading in nearly two years.
September 29, 2016
Consumer prices in September rose 0.1% in a month-on-month comparison, according to preliminary data released by the Federal Statistics Office (Destatis) on 29 September.
September 28, 2016
Heading into October, the mood among German consumers weakened slightly but still stayed at a high level.