The Ifo business climate index in Germany fell to 102 in November

According to the Ifo Institute, the mood in German companies continued to decline in November, worsening their business forecasts for the next six months. The business climate index in November, calculated by the institute, fell from the October mark of 102.9 to 102.0. Experts predicted that the figure will be 102.3.

Thus, we can conclude that the German economy is showing signs of cooling, notes Ifo's president, Clemens Fuest. Manufacturing companies are unhappy with the current situation in the country and fear that the prospects for the success of their business are in doubt. However, according to Ifo, the number of companies willing to raise prices has increased.

News are provided by InstaForex