Political uncertainty hits German business morale
The Peninsula
Frankfurt, Germany: German business confidence fell more than expected in November, a key survey showed Monday, amid political uncertainty following t...
Frankfurt, Germany: German business confidence fell more than expected in November, a key survey showed Monday, amid political uncertainty following the collapse of the country's coalition government and Donald Trump's US election win.
The Ifo institute's confidence barometer, based on a survey of around 9,000 companies in Europe's struggling top economy, slipped 0.8 points to 85.7 points.
Analysts surveyed by financial data firm FactSet had forecast a more modest fall, to 86.0.
The survey comes as Germany heads for new polls in February following the collapse of Chancellor Olaf Scholz's coalition, and with businesses facing the threat of higher tariffs on exports to the key US market once Trump returns as president.
Philipp Scheuermeyer, economist at public lender KfW, said it was "no wonder" that the index had fallen.
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