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Canada Germany: The business climate continues to degrade

14:20  24 november  2021
14:20  24 november  2021 Source:   francetvinfo.fr

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Germany-Economy-IFO: Germany: the business climate continues to deteriorate

ALLEMAGNE: LE CLIMAT DES AFFAIRES CONTINUE DE SE DÉGRADER © Reuters / Kai Pfaffenbach Germany: The business climate continues to degrade

Berlin (Reuters ) - The business climate in Germany has deteriorated in November for the fifth consecutive month, the prospects of activity of companies suffering from the persistence of tensions in the supply chains and the resurgence of the epidemic of Visc- 19, Wednesday shows the monthly investigation of the IFO Institute of Economic Studies.

The Business Climate Index declined to 96.5 after 97.7 in October while the economists and analysts surveyed by Reuters provided an average number of 96.6.

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"The bottlenecks in supply chains and the fourth wave of coronaviruses tests German companies," summed up Clemens Fuest, the President of IFO.

The component of the judgment of business leaders on their current activity conditions returned to 99.0 after 100.2 (revised) and that measuring the evolution of their expectations at a six-month horizon fell to 94, 2 after 95.4.

This evolution slice with the first results of the monthly IHS Markit PMI survey published Tuesday, which suggest a slight acceleration of the growth of private sector activity in November.

Monday, the Bundesbank, the German central bank, warned that the gross domestic product (GDP) could stagnate in the fourth quarter due to the shortages of raw materials, components and labor, to which the news addresses. Sanitary restrictions decided to try to curb the propagation of coronavirus.

(Michael Nienaber report, French version Marc Angrand, edited by Jean-Michel Bélot)

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