The ifo German business sentiment index deteriorated further in October

German business sentiment still not optimistic

The indicator fell to 97.7 points from 98.9 points in the previous month instead of the expected 97.9 points.

Supply problems are a major concern among manufacturing companies, explained Clemens Fuest, president of the ifo Institute for Economic Research (ifo Institut – Leibniz-Institut für Wirtschaftsforschung an der Universität München e.V.), which had been declining for four months now. (MTI)