Germany: Business confidence eases in September
Sentiment among German businesses inched down to 103.7 points in September from a revised 103.9 points in August (previously reported: 103.8 points). Nonetheless, the index remained above the 100-point mark that separates optimism from pessimism.
A sector-by-sector breakdown showed a mixed picture. Sentiment among manufacturers edged down due to a noticeable deterioration in their views of current conditions, even though their business outlook reached a seven-month high. In the services sector, firms’ assessment of current conditions was virtually unchanged while their business outlook worsened. Companies in the trade sector reported improved current conditions and a more favorable business outlook, chiefly due to the retailing subsector. Businesses within the construction sector also grew more positive regarding current conditions and their business outlook.