German Ifo index drops further

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The monthly ifo index on business confidence has dropped from 106.3 points in August to 104.7 points in September, the lowest level since April 2013, reflecting ongoing challenges for the German economy.

The business climate for the manufacturing sector deteriorated further from 9.4 the previous month to 6.3 in September as most respondets did not expect exports to pick up. This pessimism was also reflected in the wholesale index, wich dropped from 2,7 to -2.4.

The September ifo index is based on a survey of 7000 local entrepreneurs. it largely corresponds to the latest Markit PMI index released yesterday, which also reported a deteriorating economic climate in Germany.

Mona Dohle
Mona Dohle speaks German and Dutch, she is DACH & Benelux Correspondent for InvestmentEurope. Prior to that, she worked as a journalist in Egypt and Palestine. She started her career as a journalist working for a local German newspaper. Mona graduated with an MSc in Development Studies from SOAS and has completed the CISI Certificate in International Wealth and Investment Management.

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