German business confidence erodes in January

Confidence among business leaders in Germany inched back slightly in January, a closely-watched survey showed yesterday, as expectations for the coming months clouded over.

A monthly barometer from the Munich-based Ifo institute fell 0.4 points compared with December, to 95.9, well short of a consensus forecast from analysts surveyed by Factset.

"The German economy is starting the year in a cautious mood," Ifo chief Clemens Fuest said in a statement.

Of the two main components of the barometer, businesses' expectations for the coming months fell back one whole point, to 92.9, while views of the present economic situation improved 0.3 points, to 99.1.

Among different economic sectors, "manufacturing is showing signs of recovery," Fuest said.

Producer firms have benefited from some clearing-up of uncertainty in recent weeks, as the US and China struck a trade truce and the next steps for Brexit became clearer.

Both manufacturers' judgements of the present situation and the future outlook improved.

 

German business confidence erodes in January

Confidence among business leaders in Germany inched back slightly in January, a closely-watched survey showed yesterday, as expectations for the coming months clouded over. A monthly barometer from the Munich-based Ifo institute fell 0.4 points compared with December, to 95.9, well short of a consensus forecast from analysts surveyed by Factset. The German economy is starting the year in a cautious mood, Ifo chief Clemens Fuest said in a statement. Of the two main components of the barometer, businesses expectations for the coming months fell back one whole point, to 92.9, while views of the present economic situation improved 0.3 points, to 99.1. Among different economic sectors, manufacturing is showing signs of recovery, Fuest said. Producer firms have benefited from some clearing-up of uncertainty in recent weeks, as the US and China struck a trade truce and the next steps for Brexit became clearer. Both manufacturers judgements of the present situation and the future outlook improved.