German Business Confidence Slides Further on Energy Concerns
- Ifo expectations index fell to 75.2 in September; est. 79.0
- Germany is slipping into recession, Ifo president Fuest says
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German business confidence deteriorated further on mounting concerns over energy supplies and record-breaking inflation that’s yet to peak.
A gauge of expectations by the Ifo institute released Monday slid to 75.2 in September from 80.3 in August. That’s the lowest since April 2020. Analysts had predicted a drop to 79. An index of current conditions also fell.