Economy of Germany officially enters a phase of recession
The ifo Institute has published the ifo Index for September, revealing a decline in the overall business climate. The ifo Business Climate Index for September stands at 84.3, marking a significant drop from the previous month's 88.5.
The Current Situation Index for September shows a slight increase to 94.5, compared to the previous month's 97.5. However, the forecast for the Current Situation Index was 96.0, indicating a missed expectation.
The most concerning development is the increase in supply bottlenecks. In September, 65.8% of companies reported supply bottlenecks, up from 62% in the previous month. This increase was observed across all economic areas, leading to significant decreases across the board.
Despite the increased supply bottlenecks, no specific comment from ifo expert Wohlrabe about this issue was mentioned in the text. Similarly, no new comment from Mr. Wohlrabe about the ifo Index for October was provided in the provided text.
The Expectations Index for September stands at 75.2, down from the previous month's 80.3. Unfortunately, the Expectations Index for October is not yet available.
It's worth noting that no new forecasts for the ifo Business Climate Index, Current Situation Index, or Expectations Index were mentioned for October.
The ifo Institute did not provide any new information about the previous month's Economic Sentiment Index in the text provided. The ifo Business Climate Index for October is not yet available. Stay tuned for further updates.
