GGeer­rm­maan­nyy’’ss IIf­foo BBu­us­si­in­neessss CCl­li­im­maat­tee IIn­nd­de­exx ccoon­nt­ti­in­nu­ueess ttoo ffaal­lll

Financial Mirror (Cyprus) - - FRONT PAGE -

The Ifo Business Cli­mate In­dex for in­dus­try and trade in Ger­many fell in Oc­to­ber to 103.2 points from 104.7 points in the pre­vi­ous month, the Ifo In­sti­tut said on Mon­day.

As­sess­ments of the cur­rent business sit­u­a­tion were once again less favourable than last month. Ex­pec­ta­tions with re­gard to the six-month business out­look con­tin­ued to cloud over. The out­look for the Ger­man econ­omy de­te­ri­o­rated once again.

In man­u­fac­tur­ing the business cli­mate de­te­ri­o­rated sig­nif­i­cantly. As­sess­ments of the cur­rent business sit­u­a­tion were markedly less favourable and are now only marginally higher than the long-term av­er­age. Business ex­pec­ta­tions also con­tin­ued to de­te­ri­o­rate. Ca­pac­ity util­i­sa­tion rates fell by 0.3 per­cent­age points to 83.7%. Ex­port business ex­pec­ta­tions, how­ever, was the only area in which man­u­fac­tur­ers did ex­press mild con­fi­dence. In whole­sal­ing the business cli­mate in­dex rose. After three con­sec­u­tive de­creases, as­sess­ments of the cur­rent business sit­u­a­tion im­proved con­sid­er­ably. Business ex­pec­ta­tions re­mained slightly pes­simistic. In re­tail­ing the business cli­mate con­tin­ued to cloud over. Re­tail­ers were markedly less sat­is­fied with their cur­rent business sit­u­a­tion. Their ex­pec­ta­tions, by con­trast, bright­ened some­what.

In con­struc­tion the business cli­mate in­di­ca­tor dropped marginally, but re­mains at a very good level. Con­struc­tion firms as­sessed their cur­rent business sit­u­a­tion as slightly more favourable. Business ex­pec­ta­tions, how­ever, fell to their low­est level in a year.

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