Germany – Ifo does not give hope

This was to be expected after the weak purchasing managers' indices published on Friday: The Ifo business climate also fell again in November. With a drop from 86.5 to 85.7, a large part of the previous month's increase was lost again. In particular, the assessment of the current business situation deteriorated further and has now been on a downward trend for more than three years. Business expectations, on the other hand, have only deteriorated slightly compared to the previous month (87.2 after 87.3). The poorer sentiment among companies is therefore not due to the fear of US tariffs on German exports to the US following Donald Trump's election. Rather, the current situation has obviously deteriorated further.

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