Munich (dpa) – The mood has deteriorated further in the German economy. In November, the business climate of Ifo fell by 0.9 points to 102.0 meters, as the research institute announced in Munich on Monday.
Analysts had expected an average decrease to 102.3 points. The main German economic barometer has dropped for the third consecutive month. This is true among economists as an indication of an economic turnaround.
Respondents rated their current business situation and expectations for the next six months worse than in October. In the construction sector, the recent record hunt could not continue. "The German economy is cooling down," says Ifo president Clemens Fuest.