10/26/2020, 10:04 AM (Source: TeleTrader)
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Ifo: Business climate in Germany down in October

The Business Climate Index for Germany dropped below the estimates to land at 92.7 points in October, the Institute for Economic Research (Ifo) said in its report published on Monday. The figure decreased for the first time since April.

The Expectations Index also declined this month compared to September, arriving at 95 points. On the other hand, the Current Assessment Index improved more than the expectations suggested, reaching 90.3 points.

"As the COVID-19 infections rise, nervousness is growing in the German economy," said Ifo's economist Klaus Wohlrabe shortly following the release of the report, forecasting growth of 2.1% in the last quarter of the year.

Breaking the News / ND