German business confidence slips after 5 months of rises

Posted 10/26/20

BERLIN (AP) — German business confidence has declined for the first time after five straight monthly increases as coronavirus infections rebound across Europe, a closely watched survey showed …

To Our Valued Readers –

Visitors to our website will be limited to five stories per month unless they opt to subscribe.

For $5.99, less than 20 cents a day, subscribers will receive unlimited access to the website, including access to our Daily Independent e-edition, which features Arizona-specific journalism and items you can’t find in our community print products, such as weather reports, comics, crossword puzzles, advice columns and so much more six days a week.

Our commitment to balanced, fair reporting and local coverage provides insight and perspective not found anywhere else.

Your financial commitment will help to preserve the kind of honest journalism produced by our reporters and editors. We trust you agree that independent journalism is an essential component of our democracy. Please click here to subscribe.

Sincerely,
Charlene Bisson, Publisher, Independent Newsmedia

Please log in to continue

Log in
I am anchor

German business confidence slips after 5 months of rises

Posted

BERLIN (AP) — German business confidence has declined for the first time after five straight monthly increases as coronavirus infections rebound across Europe, a closely watched survey showed Monday.

The Ifo institute said its monthly confidence index fell to 92.7 points in October from 93.2 in September. It said that companies' view of their current situation improved but their expectations regarding the outlook for the next sixth months worsened.

Germany, which has Europe's biggest economy, is widely viewed as having handled the first phase of the pandemic well. Its shutdown in the spring was relatively mild and short compared with those in some other European countries.

But Germany hasn't been spared the sharp rises in new infections seen across Europe in recent weeks. Though confirmed new cases have been rising at record rates, they are not yet rising at anywhere near as fast as some other European countries, such as Britain, France and Spain.

In light of the virus’ resurgence, new restrictions have been imposed in some parts of the country on everyday life, such as the early closing of bars and added requirements regarding mask-wearing.

Ifo's index is based on monthly responses from around 9,000 companies across the economy.

Comments