Germany: Business confidence continues to fall
October 27, 2014
The business confidence index, elaborated by the Ifo Institute, fell for the sixth consecutive month in October. The indicator came in at 103.2 points, which was down from the 104.7 points observed in September and marked the lowest level since December 2012. In addition, the index undershot the 104.5 the markets had expected.
According to the Institute, October’s result stemmed from firms being less positive regarding both their current situations and future business development. Regarding the different surveyed subsectors, business confidence fell in the manufacturing, retail sales and construction sectors, while it improved for the wholesaling business.