Economy

Bad mood in the economy

German managers to appreciate their current situation quite well, but worries about the future plagued. Especially exporters are worried about the lifeless global economy and waning emerging economies.

The mood of the German CEOs is given the weak economy has been so bad for over a year, not more. The business climate Index fell in February from 107,3 to 105,7 points and thus for the third month in a row, as the Munich-based Institute for economic research (Ifo) on Tuesday to its survey among 7000 managers announced.

Economists had only with a fall 106.7 counter easily. Three losses in a row is usually regarded as a Signal for an economic slowdown. “The Worry of the German economy are increasing, in particular in the industry,” said Ifo President Hans-Werner Sinn.

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The most important early indicator for the development of the German economy of bad debt, was mainly due to the anxious look forward to the future. “The companies were for the first time since more than a year, the majority are pessimistic regarding their business prospects”, says sense. The current situation assessed, the executives, however, something better than the last.

Pessimists inlet

Overall, brightened the mood in the construction industry, in the face of low interest rates and a strong demand for new homes on a sustained Boom can hope. Among the service providers, Wholesale and retail, as well as in the export-dependent industry received the camp of the pessimists, by contrast inflow. The expectations of the firms gave this as strong as since November 2008, not more.

“With the continued downturn in emerging countries and various European sites, there is currently simply too much, what the expectations of the business press”, said the Europe-chief economist of Nordea Bank, Holger Sent. “Stagnation or recession, but not equally to be feared, rather a Mini growth.”

This looks Andreas Scheuerle from DekaBank, is similar: “in particular, the exportlastige industry sees risks for the global economy and in order for your business to raise,” says the Economist. Many experts trust in the German economy this year has been a growth on the previous year’s level of 1.7 per cent. Ifo-expert Klaus Wohlrabe feared, however, that many forecasts now must be lowered.

who/hb (rtrd, dpa)