German business confidence down in Nov. ’24

German business sentiment worsened in November, with the ifo Business Climate Index falling to 85.7 points, down from 86.5 in October.

The decline was driven by a more negative assessment of the current situation, alongside slightly lower expectations.

The manufacturing sector saw increased scepticism, despite some improvement in assessments of the current situation, with declining orders remaining a concern.

The services sector experienced a sharp drop in sentiment, with businesses becoming more pessimistic about both the present and the future.

In contrast, the retail sector showed some improvement, with businesses more positive about current conditions and expectations slightly less pessimistic.

The construction industry also saw a noticeable decline, with companies less satisfied with current business and more cautious about the future.

Attribution: ifo 

Subediting: M. S. Salama