(CercleFinance.com) – The business climate improved slightly in November in Germany, a rebound however insufficient to escape current recessionary pressures, according to the monthly survey published Friday by the Ifo institute.
Its business climate index, calculated from the responses of 9,000 companies, stood at 87.3 for the current month, compared to 86.9 in October, where economists on average anticipated an index of 87.5 .
The sub-index measuring companies’ judgment of their current situation stood at 89.4, compared to 89.2 in October, while the expectations sub-index reached 85.2 compared to 84.8 in October.
Despite this relative stabilization, analysts believe that these figures suggest that Europe’s largest economy is still operating in a zone of contraction in activity.
‘Businesses simply have too many shocks to withstand, whether it is the sharp rise in global interest rates or the uncertainties caused by the German government’s energy and budgetary policies,’ says Jorg Kramer, the chief economist. from Commerzbank.
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