German firms reluctant to recruit, says Ifo

Only isolated German companies plan to recruit more staff, according to the Ifo Employment Barometer that fell to 105.4 index points in November, after 106.9 points in October and 107.9 in November last year. For the moment there is only a slightly positive employment dynamic.

In manufacturing, the employment barometer remained constant at a low level. Like last month, nothing points to an upturn in employment in the future.

In distribution there is no net increase in the staff base at present. Construction firms continue to recruit new staff, although to a somewhat lesser degree than last month. Willingness to recruit in the service sector fell to its lowest level since October 2013, but remains positive.