FOREX TradingCharts.com

Financial News: German Business Confidence Logs Record Fall In March

German Business Confidence Logs Record Fall In March

03/25/2020 - 06:04:00 (RTTNews)

(RTTNews) - German business sentiment logged its steepest fall ever recorded since German reunification, as the spread of coronavirus weighed on economic activity, final survey data from ifo Institute showed Wednesday.

The business confidence index fell to 86.1 in March from 96.0 in February. This was the biggest fall since German reunification and reached its lowest level since July 2009. The preliminary reading for March was 87.7.

Sentiment among German managers has become extraordinarily dire, Clemens Fuest, ifo President said. "The German economy is in shock."

The final survey showed that companies' expectations darkened as never before. Assessments of the current situation also worsened considerably.

The business situation indicator came in at 93.0 in March versus 99.0 in the previous month and also below the preliminary estimate of 93.8.

At the same time, the expectations index plunged to 79.7 from 93.1. The flash score was 82.0.

In manufacturing, the business confidence index fell to its lowest level since August 2009. Never in the history of a reunified Germany has it fallen so far, the think tank noted.

In the service sector, the business climate indicator reported the greatest fall since the data was first recorded in 2005. At the same time, confidence in trade collapsed. In construction, the index fell comparatively moderately.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2020 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


Moody's Affirms New Zealand's Credit Ratings (25 min(s), 59 sec(s) ago)
(RTTNews) - Moody's Investors Service on Thursday affirmed the sovereign ratings of New Zealan ...Full Story»

Eurozone Producer Prices Fall Further (01 hr(s), 0 min(s),59 sec(s) ago)
(RTTNews) - Eurozone producer prices declined at a faster pace in February, data from Eurostat sho ...Full Story»

Spain Unemployment Surges In March (01 hr(s), 31 min(s), 59 sec(s) ago)
(RTTNews) - Spain's unemployment increased sharply in March due to the lockdown announced afte ...Full Story»

UK House Price Growth Fastest Since Early 2018: Nationwide (02 hr(s), 50 min(s), 59 sec(s) ago)
(RTTNews) - UK house prices grew at the fastest pace in more than two years in March before the co ...Full Story»

Swiss Consumer Prices Fall For Second Month (03 hr(s), 16 min(s), 59 sec(s) ago)
(RTTNews) - Switzerland's consumer prices declined for the second month in a row in March, the ...Full Story»

Romania Producer Price Inflation At 4-month Low (03 hr(s), 27 min(s), 59 sec(s) ago)
(RTTNews) - Romania's producer price inflation lowest in four months in February, figures from ...Full Story»

UK House Price Growth Accelerates In March (04 hr(s), 04 min(s), 59 sec(s) ago)
(RTTNews) - UK house prices increased at the fastest pace since January 2018, data from the Nation ...Full Story»

India Manufacturing Growth Weakest In Four Months (04 hr(s), 10 min(s), 59 sec(s) ago)
(RTTNews) - India's manufacturing sector growth slowed in March due to a softer rise in output ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

Moody's Affirms New Zealand's Credit Ratings

04/02/2020 - 05:56 AM (RTTNews)
(RTTNews) - Moody's Investors Service on Thursday affirmed the sovereign ratings of New Zealan ...Full Story>>

Eurozone Producer Prices Fall Further

04/02/2020 - 05:21 AM (RTTNews)
(RTTNews) - Eurozone producer prices declined at a faster pace in February, data from Eurostat sho ...Full Story>>

Spain Unemployment Surges In March

04/02/2020 - 04:50 AM (RTTNews)
(RTTNews) - Spain's unemployment increased sharply in March due to the lockdown announced afte ...Full Story>>

UK House Price Growth Fastest Since Early 2018: Nationwide

04/02/2020 - 03:31 AM (RTTNews)
(RTTNews) - UK house prices grew at the fastest pace in more than two years in March before the co ...Full Story>>

Swiss Consumer Prices Fall For Second Month

04/02/2020 - 03:05 AM (RTTNews)
(RTTNews) - Switzerland's consumer prices declined for the second month in a row in March, the ...Full Story>>
Copyright © 2020. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.