- Title: German business morale unchanged in October - Ifo
- Date: 25th October 2019
- Summary: COLOGNE, GERMANY (FILE - DECEMBER 27, 2018) (REUTERS) VARIOUS OF SHOPPERS IN DEPARTMENT STORE VARIOUS OF SHOPPERS ON STREET BERLIN, GERMANY (FILE - DECEMBER 24, 2014) (REUTERS) VARIOUS DEPARTMENT STORE INTERIORS VARIOUS OF SHOPPERS ON ESCALATORS WOLFSBURG, GERMANY (FILE - OCTOBER 21, 2015) (REUTERS) VARIOUS OF VW PRODUCTION CHECKS DUISBURG, GERMANY (FILE - MARCH 21, 2019) (REUTERS) VARIOUS OF CONTAINER TERMINAL
- Embargoed: 8th November 2019 11:31
- Keywords: business Ifo index Clemens Fuest sentiment industry
- Location: SCHROBENHAUSEN & MUNICH & COLOGNE & BERLIN & WOLFSBURG & DUISBURG, GERMANY
- City: SCHROBENHAUSEN & MUNICH & COLOGNE & BERLIN & WOLFSBURG & DUISBURG, GERMANY
- Country: Germany
- Topics: Economic Events
- Reuters ID: LVA003B2LFQFH
- Aspect Ratio: 16:9
- Story Text:German business sentiment held steady in October, and Europe's largest economy should grow moderately in the final quarter after contracting earlier in the year, the Ifo economic institute said on Friday.
Ifo said its business climate index was unchanged from the prior month in October at 94.6.
That was just above the consensus forecast for 94.5.
"The business climate index is stable, we are seeing a certain recovery," Ifo President Clemens Fuest told Reuters Television.
Europe's economic powerhouse shrank in the second quarter, and many economists expect it to have done so again in the third. That would put it in recession - usually defined as a period of at least two consecutive quarters of contraction.
Germany's export-reliant economy has been suffering from slower global growth and business uncertainty caused by U.S. President Donald Trump's 'America First' trade policies and Britain's planned, but delayed, exit from the European Union.
(Production: Niklas Dimmer, Marcus Nagle, Michele Sani) - Copyright Holder: FILE REUTERS (CAN SELL)
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