3509
German Business Mood Dips to 2-Year Low
World Economy

German Business Mood Dips to 2-Year Low

A key barometer of German business sentiment has dropped to levels not seen in almost two years. The latest Ifo benchmark index suggested Europe’s biggest economy may be in for a bumpy ride in the months to come.
Presenting its closely watched index of the mood among German executives, the Munich-based Ifo economic research institute reported Monday its benchmark barometer fell for the sixth consecutive month in October, DW reported.
The index dropped to 103.2 points from 104.7 points in the previous months, suggesting Germany’s economy may face severe headwinds in the fourth quarter of 2014.
The poll among 7,000 managers revealed a generally worse assessment of their current business environment. At the same time, the respondents were increasingly pessimistic about economic developments in the next six months.

  Dim Outlook
“Economic prospects have worsened even further,” Ifo President Hans-Werner Sinn said in a statement, citing ongoing geopolitical tensions over the Ukraine conflict and the situation in the Middle East.
The latest Ifo index saw European shares largely erase early morning gains that had appeared as a direct response to the better-than-expected results of the ECB’s banking sector health check, with only 25 out of 130 big lenders failing the test.
Also on Monday, theAssociation of German Chambers of Commerce and Industry (DIHK) predicted the national economy would only expand by 1.3 percent this year. Germany would log only 0.8 percent growth in 2015, DIHK added, thus failing to be Europe’s growth engine in the foreseeable future.
Poor economic data, falling stock prices, rising unemployment: Europe is still in crisis mode. Without countermeasures, the survival of the eurozone and its currency might be at risk, senior economists recently told DW.
Many economists agree: The risk that Europe may stagger back into the economic abyss is far from over.

 

Short URL : http://goo.gl/159w8L

You can also read ...

French Foreign Minister Jean-Yves Le Drian addresses CEDRE Conference in Paris on April 6, with Lebanese Prime Minister Saad Hariri on his right.
With the FIFA World Cup over and French victory secured,...
Handout picture shows IMF Managing Director Christine Lagarde on a screen as she speaks  during the G20 meeting taking place in Buenos Aires, on July 21.
The International Monetary Fund warned world economic leaders...
Australia  Faces Massive Economic Crash
Australia is facing an economic shock akin the global...
Dubai’s new business licenses in the second quarter of 2018 were down 26% from the same period in 2016.
In Dubai’s posh Jumeirah Beach residence district, luxury...
Germany Lifts Turkey Sanctions
Germany has lifted economic sanctions on Turkey and relaxed...
IFC to Inject $2 Billion in Egypt’s Private Sector
International Finance Corporation, a member of the World Bank...
According to a survey, 75.3% are facing difficulties in running their businesses this year.
South Korea’s major business lobby said Sunday it will file an...
Algeria Trade Deficit Sharply Down
Algeria’s trade deficit declined by 83.6% to $490 million...

Trending

Googleplus