Germany's Ifo Index Falls as Second Wave Takes Toll on Business Sentiment
October 26 2020 - 5:40AM
Dow Jones News
By Maria Martinez
German business sentiment fell in October after increasing for
five consecutive months, the Ifo Institute said Monday.
In view of rising coronavirus cases, German businesses are
becoming increasingly worried, Ifo said.
The Ifo business-climate index came in at 92.7 points in
October, compared with a downwardly revised 93.2 points in
September. Economists surveyed by The Wall Street Journal had
forecast it at 92.9 points.
Companies' assessment of their current situation improved
slightly, rising to 90.3 points in October from 89.2 points in
September.
However, companies are considerably more skeptical regarding
developments over the coming months, Ifo said. Expectations
declined, with the component falling to 95.0 points from a revised
97.4 points in September, Ifo said.
The Ifo index is based on a poll of about 9,000 companies in
manufacturing, services, trade and construction.
Write to Maria Martinez at maria.martinez@wsj.com
(END) Dow Jones Newswires
October 26, 2020 05:25 ET (09:25 GMT)
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