German Business Sentiment Sinks Further in August -Ifo Survey
August 26 2019 - 4:54AM
Dow Jones News
By Emese Bartha
FRANKFURT--German business sentiment worsened again in August,
underpinning views that the country's economic powerhouse is
currently moving toward a recession.
The Ifo business-climate index fell to 94.3 points in August
from a revised 95.8 points in July, the Ifo Institute said Monday.
The print, the lowest since November 2012, missed economists'
forecasts of 95.1 points in Dow Jones Newswires' survey.
Companies' expectations fell to 91.3 points in August from a
revised 92.1 points in July, hitting the lowest figure in more than
10 years.
"German CEOs' worry lines are getting deeper," the Ifo Institute
said. It said companies were once again "much less satisfied" with
their current business situation.
"Pessimism regarding the coming months also increased," it said.
It said "there are ever more indications of a recessions in
Germany."
The Ifo result is based on a poll of about 9,000 companies in
manufacturing, services, trade and construction.
Write to Emese Bartha at emese.bartha@wsj.com
(Hans-Joachim Koch in Frankfurt contributed)
(END) Dow Jones Newswires
August 26, 2019 04:39 ET (08:39 GMT)
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