The climate in German economy he’s got collapse because of the war in Ukraineappreciates the Ifo Institute for Economic Research of Munichwhich records in the relevant index a fall of almost eight points compared to February.
In accordance with IfoThe Business Climate Index fell to 90.8 points in March from 98.5 points in February due to a record 13.3 points drop in business expectations. It is characteristic that this fall exceeds the limit of expectations that was recorded with the outbreak of the coronavirus pandemic in March 2020 (11.8 points). In addition, companies rate their current situation as worse than it was during the pandemic and expect difficulties in the future.
In industry the index he fell faster than ever, with companies completely losing their optimism and describing their prospects as “extremely uncertain”. In the services sector there is a significant deterioration of the climate, especially in terms of transport, while in trade the index collapsed to a record level. However, the estimates for the current situation remain almost unchanged, with a positive sign. The climate is also declining significantly in construction, where the outlook is also pessimistic, although the majority of companies participating in the Ifo survey say they are still satisfied with their current activity.
Follow Skai.gr on Google News
and be the first to know all the news
