After three record a small Dent: The Ifo values for business climate index fell in August, but shows hardly a blemish. In the previous month, the much-acclaimed mood barometer had reached an all-time high.
The mood among managers of German companies deteriorated after three record values in a row are minimal. The Manager is no longer assessed their current business situation as good, the Outlook for the next six months, but cheaper than the last time. “The German economy is still on a growth course”, said Ifo President Clemens Fuest.
For the business climate index of the Ifo Institute surveyed every month about 7,000 companies. The results of the survey are converted into points. In August, the Index reached 115.9 points in July to 116 meters. Economists had previously expected a greater decline.
“At a very high level”
In manufacturing the record of the previous month had been outbid even slightly, it was said at the Ifo Institute. In the automotive industry, the diesel affair, and the antitrust allegations against several of these companies have left so far in the monthly survey, no traces. Overall, the Index “remains on a very high level”.
Other economists shared this assessment: “The Ifo Index, defying the force of gravity. The firm Euro, can affect the rosy expectations of the company so far nothing,” said Holger sandte of Nordea Bank. Similar to Jörg Zeuner, the Kfw banking group: “The minimum consolidation in the business climate according to several new all-time highs this year, do not need to worry about, especially as the Outlook brightens. The German economy is buzzing.”
ar/bea (rtr, afp)