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8/25/2021, 10:00 AM (Source: TeleTrader)
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Ifo: Germany business climate worsens in August

German businesses' sentiment worsened in August compared to July, the Institute for Economic Research (Ifo) said on Wednesday.

The Ifo Business Climate Index decreased to 99.4 from 100.8. The current assessment index increased 1 point to 101.4, while expectations dropped from 101.0 to 97.5.

According to Ifo's Economist Klaus Wohlrabe, 70% of businesses complained of supply chain bottlenecks. Approximately two-thirds of companies in manufacturing, retail want higher prices to cover rising inflation, he added.

Baha Breaking the News (BBN) / MD