ZURICH (MaceNews) – Business confidence in Germany was hampered by supply delays, according to the latest report from the Munich-based Ifo institute.
The IFO Business Climate Index fell to 97.7 in October, slightly below the Econoday median of 98.1 in a survey of economists’ forecasts. The September result was revised to 98.9, from the 98.8 initially reported.
Current conditions declined as well dropping to 100.1 from 100.4 in September while the expectations component fell more sharply, to 95.4 in October from a revised 97.4 (97.3) the previous month.
“Sand in the wheels of the German economy is hampering recovery,” said Ifo President Clemens Fuest, citing supply problems and falling capacity utilization in the manufacturing sector.
—
Content may appear first or exclusively on the Mace News premium service. For real-time delivery contact tony@macenews.com. Twitter headlines @macenewsmacro.