Germany: Business confidence picks up in September, but remains pessimistic
Business confidence rose to 93.4 in September from 92.5 in August, marking the best reading since February and suggests that the economy is gradually recovering from the pandemic-induces crisis. However, the index remained below the neutral 100-threshold that separates pessimism from optimism among businesses.
The headline print reflected a strong uptick in views on the current climate, while business expectations rose at a softer pace.
Clemens Fuest, president of the ifo Institute, commented: “The German economy is stabilizing despite rising infection numbers.”