German business confidence has fallen for a fifth consecutive month and hit a nearly seven-year low, survey finds—adding to mounting worries that Europe's biggest economy is headed for a recession.
German business confidence has fallen for a fifth consecutive month and hit a nearly seven-year low, a closely watched survey found Monday — adding to mounting worries that Europe's biggest economy is headed for a recession.
It was the lowest reading for the index since November 2012. Ifo's head, Clemens Fuest, said"there are ever more indications of a recession in Germany." The German economy contracted by 0.1% in the April-June period and the country's central bank, the Bundesbank, said last week it"could decline slightly" again in the summer. A technical recession is defined as two consecutive quarters of negative growth.
Still, Ifo's latest survey showed an across-the-board decline in confidence. In the manufacturing sector,"the last time that industrial companies demonstrated such pessimism was in the crisis year of 2009," Fuest said. He added that"not a single ray of light was to be seen in any of Germany's key industries."
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Facebook Wins Appeal Against German Data-Collection BanFacebook won an appeal to a German antitrust edict regarding how it collects user data across its platforms, including Instagram and WhatsApp, an initial victory for the social-media giant as it faces wide scrutiny from regulators in Europe and U.S.
Leer más »
German cartel office to take Facebook case to High CourtGermany's cartel office said on Monday it would appeal a regional court dec...
Leer más »
German court suspends restrictions on Facebook data gatheringA German court on Monday temporarily suspended a February decision by the cartel...
Leer más »
Global recession signals flash again as German business confidence falls to its weakest in 7 yearsGermany said gross domestic product shrank by 0.10% in the second quarter, stoking concerns of a recession within Europe's largest economy.
Leer más »
German business morale falls to lowest level since 2012 in AugustGerman business sentiment deteriorated more than expected in August to hit its l...
Leer más »
Merkel's Bavarian allies call for German climate bondGermany's Christian Social Union (CSU), the sister party of Chancellor Ange...
Leer más »