German business sentiment deteriorated further

Business sentiment is deteriorating for five months in Germany – announced the Munich-based ifo Economic Research Institute.

In contrast with market expectations, the German business confidence index has not improved, but worsened in September: the index decreased from the 102.3 points of August to 101.4 points in September. Analysts expected an average of 102.5 points.

Last week, the ZEW economic research institute informed about improvement in the German business sentiment contrary to ifo. (MTI)