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

Latest news

Greenback edges down

On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…

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

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera