Fra IFO.de
Clear Worsening of the Ifo Business Climate
Business confidence in Germany has clearly worsened. The Ifo Business Climate Index fell from 108.3 points in July to 106.2 points in August. Both the current business situation and the expectations for the next six months were assessed more poorly by the companies than in the previous month. The German economy has fallen into a summer slump.
In manufacturing, the index has fallen again. The industrial firms were less satisfied with their current business situation. The expectations also clouded over markedly, falling below their long-term average. Especially the volume of new orders declined. The business climate index fell in nearly all industry branches, most clearly, however, in the chemical and electrical industries.
In both wholesaling and retailing, the business climate deteriorated. The distributors were not as satisfied with their current situation as they were in July. Their expectations show initial signs of scepticism. The decline in retailing is primarily attributable to food and beverages.
In construction, the business climate index remained at a record level. While the still very good assessments of the current business situation weakened somewhat, the construction firms are slightly more optimistic regarding the coming months.
Prof. Dr. Clemens Fuest
President of the Ifo Institute
Ifo Business Climate Germany (Index)
Business Situation and Expectations by Sector (Balances)
Ifo Business-Cycle Clock Manufacturing Industry
Ifo Business-Cycle Clock Industry and Trade
Ifo Business Cycle Traffic Lights Industry and Trade
Time series
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