Economic Indicators
German business sentiment falls more than expected in September, says Ifo
2024.09.24 04:34
By Maria Martinez
BERLIN (Reuters) – German business morale fell more than expected in September and for the fourth consecutive month, a survey showed on Tuesday, pushing back recovery hopes for Europe’s largest economy.
The Ifo institute said its business climate index decreased to 85.4 in September from 86.6 in August.
Analysts polled by Reuters had forecast a reading of 86.0.
“The German economy is coming under increasing pressure,” said Ifo president Clemens Fuest.
Companies also assessed their current situation as worse, Ifo found in its survey of around 9,000 managers.
The current conditions index fell to 84.4 in September. Economist polled by Reuters had forecast a reading of 86.0.
