German automotive sector shows slight recovery – ifo

Germany’s automotive sector saw a modest improvement in sentiment, as the ifo Business Climate Index rose by 1.3 points in September.

However, the index remains deeply negative at -23.0 points, reflecting ongoing challenges in the industry. According to Anita Wölfl, ifo industry expert, while the steep decline from the previous month has paused, it is too early to declare a recovery.

Business expectations showed a slight rebound, improving to -32.4 points from August’s -39.6 points. Despite this, the current business situation worsened, with the indicator dropping to -13.0 points from -7.5 points in the previous month.

Attribution: ifo Institute

Subediting: M. S. Salama