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Financial News: German Ifo Improves Slightly In September, Outlook Remains

German Ifo Improves Slightly In September, Outlook Remains Dull

09/24/2019 - 04:45:00 (RTTNews)

(RTTNews) - Germany's business confidence strengthened slightly in September on a better assessment of the current situation, while expectations for coming months worsened again, survey results from the ifo Institute showed on Tuesday.

The ifo business confidence index climbed to 94.6 from 94.3 in August. Economists had forecast a score of 94.5.

"The downturn is taking a breather," ifo Institute President Clemens Fuest said.

The current situation index rose to 98.5 from 97.4 in the previous month. That was in contrast to expectations for a decline to 97.

The expectations measure fell to 90.8 from 91.3, defying expectations for an improvement to 92.

The business climate index for manufacturing continued to trend downward, while the measure for services logged a marked recovery after the decline in the previous month.

Morale weakened further in the trade sector, while confidence improved in construction, led by more optimistic expectations.

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