Germany business confidence falls for sixth straight month in Oct

24 October 2012 13:42  [Source: ICIS news]

LONDON (ICIS)--Germany’s business climate declined for the sixth month in a row in October, falling to its lowest level since February 2010, a research group said on Wednesday.

Munich-based Ifo institute said that its monthly business climate index for Europe’s largest economy fell to 100.0 points in October, from 101.4 in September. The index is based on a survey of about 7,000 companies.

Ifo said that companies again expressed growing dissatisfaction with their current business situation.

In manufacturing, capacity utilisation rates were considerably lower in the third quarter than in the second, Ifo added.

However, manufacturers’ business expectations recovered slightly for the first time in six months and are less pessimistic, Ifo said.

Meanwhile, in building and construction, firms expressed less pessimism about their six-month business outlook, but they were far less satisfied with their current business situation than in September.

Retailers surveyed were much more satisfied with their current business situation, but they expressed greater pessimism about their six-month business outlook than in September. 

Wholesalers reported slightly improved expectations, but their assessments of the current business situation cooled down significantly, Ifo said.

Paul Hodges studies key influences shaping the chemical industry in his Chemicals and the Economy Blog

By: Stefan Baumgarten
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