Germany : Ifo Business Survey December 2008

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Ifo Business Survey December 2008
Renewed Decline of the Ifo Business Climate
Results of the December 2008 Ifo Business Survey

The Ifo Business Climate for industry and trade in Germany has clearly fallen in December, continuing its decline of more than one year. The dominant feature of the December decline is the worsening of the firms’ current business situation. With regard to the six-month business outlook, the scepticism of the survey participants remains nearly unchanged. A similarly low level of the business climate index was last reached during the second oil crisis at the end of 1982. The downturn is affecting above all the manufacturers of export and capital goods and less, up until now, retailing and construction.

Full Survey result here.