{"id":118802,"date":"2021-07-27T10:27:57","date_gmt":"2021-07-27T10:27:57","guid":{"rendered":"https:\/\/fin2me.com\/?p=118802"},"modified":"2021-07-27T10:27:57","modified_gmt":"2021-07-27T10:27:57","slug":"german-ifo-business-confidence-deteriorates-unexpectedly","status":"publish","type":"post","link":"https:\/\/fin2me.com\/economy\/german-ifo-business-confidence-deteriorates-unexpectedly\/","title":{"rendered":"German Ifo Business Confidence Deteriorates Unexpectedly"},"content":{"rendered":"

German business<\/span> confidence weakened unexpectedly in July as supply bottlenecks and concerns over rising coronavirus infections weighed on the economy, survey results from the ifo Institute revealed on Monday.<\/p>\n

The business climate index fell to 100.8 in July from a revised 101.7 in June. The score was forecast to rise to 102.1 from June’s initially estimated value of 101.8.<\/p>\n

Assessment of companies regarding their current business situations improved in July, while their expectations for the coming months were significantly less optimistic.<\/p>\n

The current conditions index rose to 100.4 from a revised 99.7 a month ago. But it was below the economists’ forecast of 101.6.<\/p>\n

Meanwhile, the business expectations index dropped more-than-expected to 101.2 in July from 103.7 in the prior month. The expected reading was 103.3. <\/p>\n

Driven by weak expectations, business climate deteriorated in the manufacturing sector. In contrast, companies’ assessments of the current situation rose to their highest level since August 2018.<\/p>\n

The scarcity of intermediate products is becoming more critical, and more and more companies complain of a lack of skilled workers, the survey showed. <\/p>\n

In the service sector, the business climate weakened in July. Although service providers were more satisfied with their ongoing business, their view of the coming months is much less optimistic. <\/p>\n

The business climate index in trade took a downturn in July, while in construction, the business climate improved. <\/p>\n

The small decline in the Business Climate Index in July suggests that the rebound in Germany may be losing some momentum, Andrew Kenningham, an economist at Capital Economics, said.<\/p>\n

But Germany will still post very rapid GDP growth in both the second quarter and third quarter and should regain its pre-pandemic level ahead of any other major euro-zone country, the economist added. <\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

German business confidence weakened unexpectedly in July as supply bottlenecks and concerns over rising coronavirus infections weighed on the economy, survey results from the ifo […]<\/p>\n","protected":false},"author":3,"featured_media":118801,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"yoast_head":"\nGerman Ifo Business Confidence Deteriorates Unexpectedly - Fin2me<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fin2me.com\/economy\/german-ifo-business-confidence-deteriorates-unexpectedly\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"German Ifo Business Confidence Deteriorates Unexpectedly - Fin2me\" \/>\n<meta property=\"og:description\" content=\"German business confidence weakened unexpectedly in July as supply bottlenecks and concerns over rising coronavirus infections weighed on the economy, survey results from the ifo [...]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/fin2me.com\/economy\/german-ifo-business-confidence-deteriorates-unexpectedly\/\" \/>\n<meta property=\"og:site_name\" content=\"Fin2me\" \/>\n<meta property=\"article:published_time\" content=\"2021-07-27T10:27:57+00:00\" \/>\n<meta name=\"author\" content=\"Mark\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/fin2me.com\/wp-content\/uploads\/2021\/07\/German-Ifo-Business-Confidence-Deteriorates-Unexpectedly-.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Mark\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/fin2me.com\/economy\/german-ifo-business-confidence-deteriorates-unexpectedly\/\",\"url\":\"https:\/\/fin2me.com\/economy\/german-ifo-business-confidence-deteriorates-unexpectedly\/\",\"name\":\"German Ifo Business Confidence Deteriorates Unexpectedly - 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