Following the release of the German IFO Business Survey, the institute’s Economist Klaus Wohlrabe said that “companies expect significant deterioration in business in coming months.”
Additional quotes
High energy prices and gas shortages weigh on the economy.
Germany is on brink of recession.
In services sector, business climate has deteriorated significantly.
In the manufacturing sector, index fell sharply; pessimism about months ahead has reached its highest level since April 2020.
German economy is facing uncomfortable times.
Uncertainty among companies has increased significantly; they find it difficult to assess the future.
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