The manufacturing sector was hit hardest, with the index falling sharply as companies reported decreased satisfaction with current business conditions. The outlook also worsened, with companies expecting further deterioration in the order situation and planning production cuts.
Germany’s ifo Business Climate Index fell to 84.7 in December, the lowest since May 2020, as companies’ expectations worsened.
Manufacturing saw notable declines, with reduced satisfaction and gloomy forecasts.
The trade sector also failed to maintain its recent positive trend, driven by dissatisfaction in both wholesale and retail.
In the trade sector, the index failed to sustain its recent upward momentum. Both wholesale and retail sectors expressed growing dissatisfaction with current business, pessimism about future conditions also increased.
Fibre2Fashion News Desk (HU)