German business morale suddenly clouds before election

German business morale suddenly clouds before election

German business confidence tumbled suddenly several weeks before Sunday's federal election, as a poll revealed on Monday, hinting that a consumption-led rise in Europe's number one economy could lose momentum in the nearer months.

As the Munich-based Ifo economic institute disclosed, in August, its business climate index, built around a monthly survey of some 7,000 companies, declined from 115.9 to 115.2 versus a Reuters consensus expectation for a reading of 116.0.

The Ifo poll was conducted just three weeks before the election. Chancellor Angela Merkel took a fourth term. However, she requires changing coalition partners, so the indicator doesn’t take the election outcome into consideration.

The sag in Ifo's headline figure took place due to the fact that managers took a more dismal evaluation of the current business situation, to say nothing of a more clouded business outlook for the next six months.

Similar

German Ifo Business Climate

German Ifo business climate is the main indicator of business sentiment in the leading economy of the euro area…

Euro zone businesses go up

Euro zone business surge is actually speeding up, as polls unveiled on Thursday, backing the European Central Bank's move the previous month to officially announce a throttling back of its monetary policy stimulus…

Popular

Japan real wages surge is slowest in almost two years

Japan's March real wages went down at the fastest pace in nearly two years, weighed by minor nominal pay lifts as well as a moderate ascend in consumer prices, thus posing a setback for Prime Minister Shinzo Abe's tries to revitalize the Japanese…

promotions you can be interested in

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later