Germany IFO Business Climate Index at 90.7... Decline Compared to Previous Month

[Asia Economy Reporter Je Moon-won] The German Economic Research Institute (IFO) announced on the 24th (local time) that the November IFO Business Climate Index, which indicates the business confidence of German companies, recorded 90.7.

This figure is lower than the previous month (92.7). However, it was higher than the expert forecast of 90.2 compiled by Bloomberg.

The IFO Expectations Index, which reflects the economic outlook for the next six months, fell to 91.5 from 95.0 in the previous month. The IFO Current Conditions Index, indicating the current level, also dropped from 90.3 to 90.0.

The IFO index is calculated based on a survey conducted on about 9,000 companies related to manufacturing, services, trade, and construction.