Canada IFO business climate increases - pessimism noticeably leaves the mood in the German economy according to

16:00  24 november  2022
16:00  24 november  2022 Source:   pressfrom.com

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unexpectedly improved in November. At the previous month, the IFO business climate rose by 1.8 points to 86.3 points, as the Munich IFO Institute announced on Thursday. In addition, the value for the previous month was revised. Accordingly, the most important German economic barometer had already increased in October for the first time since May.

Container auf einem Gelände im Hamburger Hafen. Laut Ifo-Institut hat sich die Simmung in der deutschen Wirtschaft wieder deutlich verbessert. © Daniel Bockwoldt/dpa container on a site in the port of Hamburg. According to the IFO Institute, the simulation in the German economy has improved significantly again.

"The companies were less satisfied with the ongoing shops, but pessimism with a view to the coming months was noticeable," commented IFO President Clemens Fuest. The recession should be less deep than many expected.

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Economists expected a better corporate mood in November, but had only assumed 85 points. In the past few months, inflation and problems with supply chains had burdened the mood indicator, which is based on a survey of around 9,000 companies. For the index, the mood is compared with the average of 2015.

mood brightens on

The companies surveyed brightened their current business situation in November a little worse than in the previous month. The decisive factor for the overall better business climate was the expectations: the corresponding index rose to 80 points of 75.9 points in October.

The mood improved in all areas of the economy, but especially in industry and in the service industry. "The recession loses its horror," commented chief economist Ulrich Kater from Dekabank. He expects uncertainty about energy supply and thus the concerns about production will decrease in the coming months. However, German companies faced long -term challenges, said Kater.

his Commerzbank colleague Jörg Krämer referred to the Federal Government's relief package and that the risk of a lack of gas has dropped significantly. "I unchanged a recession, but more than ever no economic collapse."

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