October 25, 2022
Following a downwardly revised 84.4 in September, the Ifo Business Climate indicator for Germany dipped to 84.3 in October 2022, the lowest level since May 2020. The numbers nonetheless above the 83.3 market expectations. The biggest economy in Europe will have a winter recession and will experience a 0.6% decline in the fourth quarter, according to the Ifo. The institute also points out that one in two businesses continues to anticipate raising prices in the next three months. While export forecasts from the industry marginally improved, 63.8% of businesses complained about supply constraints, which is a decrease from September’s 65.8% percentage. While expectations for the coming months were slightly higher, the gauge for the current situation decreased from 94.5 to 94.1. (75.6 vs 75.3)
Source: Trading Economics
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