• Linkdin
Maximize your media exposure with Fibre2Fashion's single PR package  |   Know More

Germany's business sentiment declines further in August: ifo

27 Aug '24
1 min read
Germany's business sentiment declines further in August: ifo
Pic: Adobe Stock

Insights

  • Germany's ifo Business Climate Index fell from 87 in July 2024 to 86.6 in August 2024, reflecting worsening economic sentiment.
  • Manufacturing saw a sharp decline, with future expectations at their lowest since February and declining order backlogs.
  • The trade sector showed slight improvement, but traders remain unsatisfied with current conditions.

The sentiment among German companies continues to deteriorate, according to the latest data from the ifo Business Climate Index. The index dropped from 87 points in July to 86.6 points in August, reflecting growing concerns about the current economic situation. Companies assessed their present circumstances more negatively, and their outlook for the future has become increasingly pessimistic, signalling that the German economy is sliding further into crisis.

The manufacturing sector saw a significant decline in sentiment, with the index dropping sharply. Companies expressed considerable dissatisfaction with their current business conditions, and expectations for the future have fallen to their lowest level since February. A notable decline in order backlogs was reported, particularly affecting manufacturers of investment goods, who are facing particularly challenging conditions.

In contrast, the trade sector experienced a slight improvement in the business climate after two consecutive months of decline. This uptick was attributed to somewhat less pessimistic expectations for the future. However, traders remain less satisfied with their current business situation, as per the ifo Institute.

Fibre2Fashion News Desk (DP)

Leave your Comments

Esteemed Clients

Woolmark Services India Pvt. Ltd.
Weitmann & Konrad GmbH & Co. KG
VNU Exhibitions Asia
USTER
UBM China (Shanghai)
Tuyap Tum Fuarcilik Yapim A.S.
TÜYAP IHTISAS FUARLARI A.S.
Tradewind International Servicing
Thermore (Far East) Ltd.
The LYCRA Company Singapore  Pte. Ltd
Thai Trade Center
Thai Acrylic Fibre Company Limited
X
Advanced Search