3 months ago
Economic Indicators

German IFO Business Climate Index Deteriorates in December

Investing.com - German business confidence deteriorated for the fourth straight month in December, according to survey data released on Tuesday,

Investing.com - German business confidence deteriorated for the fourth straight month in December, according to survey data released on Tuesday, adding to concerns over the health of the euro zone's biggest economy.

The Munich-based Ifo economic institute said its business climate index, based on a monthly survey of companies, declined to 101.0 from 102.0 in November. The reading was below expectations for 101.8.

The current assessment sub-index fell to 104.7 from 105.4, compared to expectations for 104.9.

The business expectations index, which measures attitudes toward business prospects over the next six months, dropped to 97.3 from 98.7 last month. That missed estimates for a reading of 98.3.

It was the lowest reading since Nov. 2014 and may indicate that growth will be subdued in 2019.

The monthly index is based on a survey of around 9,000 German firms in the manufacturing, service, trade and construction sectors.