German business sentiment declined significantly

The business climate in Germany collapsed in March, according to the second final monthly survey of the Ifo Economic Research Institute at the University of Munich.

In the final March survey of ifo sent to MTI, the business sentiment index plummeted to an unprecedented level, down 86.1 from 96.0 in February. The rate of decline has been the highest since the reunification of Germany and the lowest since the 2009 economic and financial crisis.

Ifo released last week’s March sentiment index based on preliminary calculations, which was then 87.7 points. Among the components of the index, the rating of the current situation declined from 99.0 points to 93.8 points, and the indicator for the six months ahead dropped from 93.2 points to 82.0 points. (MTI)