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Financial News: German Ifo Business Confidence Weakens In December

German Ifo Business Confidence Weakens In December

12/17/2021 - 04:47:00 (RTTNews)

(RTTNews) - German business confidence weakened in December amid deteriorating pandemic situation, survey results from the ifo Institute showed on Friday.

The business climate index fell more-than-expected to 94.7 in December from 96.6 in the previous month. The expected reading was 95.3.

The institute said companies assessed their current business situation as less positive. Pessimism regarding the first half of 2022 also increased.

The current conditions indicator came in at 96.9, down from 99.0 a month ago and economists' forecast of 97.5.

The expectations index dropped to 92.6 from 94.2 in November. The score was seen at 93.5.

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