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Germany’s business boom index fell, experts say the second wave of epidemic interrupted the economic recovery process

by YCPress

Berlin, November 24 The German ifo business outlook index released on November on the 24th continued the downward trend of last month, falling from 92.5 in October to 90.7. Fistor, director of the Ifo Economic Research Institute, said that the second wave of the coronavirus epidemic interrupted the process of German economic recovery.

The number of newly diagnosed COVID-19 reported by the German disease control department on the 24th is 13,554. According to the real-time data of Germany’s Time Online, as of 23:00 local time on the 24th, a total of 962,815 people have been diagnosed, 63,652 people have been cured and 14,992 have died in Germany.

The Munich ifo Economic Research Institute is an authoritative economic research institution in Germany. The monthly ifo Business Business Business Index, which is based on the results of the survey of about 9,000 heads of German enterprises, is generally regarded as an important weathervane for the analysis of the German economic boom.

Speaking of the performance of the ifo business boom index in November, Fist pointed out that the sentiment of the leaders of the German companies interviewed was more negative. He said that the decline in the index in November was mainly due to the significant increase in negative expectations of German companies for the business outlook, while the evaluation of the current operating conditions of enterprises has also turned worse, and the uncertainty faced by the operation has increased.

Industry-oriented, the service industry, trade and construction boom indexes all declined, with trade and services falling the most, down 4 and 3.1 respectively. At the same time, the manufacturing index rose against the trend. Companies in the industry said that their orders were continuing to rise. However, the outlook for manufacturing in the coming months is still pessimistic.

On the 25th, the German federal government will consult with the cantons on the epidemic prevention policy in December and the future. At that time, it is expected to extend the “lockdown” measures until December 20 and introduce more detailed epidemic prevention measures.

Although Germany’s economic performance in the summer, the second wave of the epidemic means a new setback for Germany and many countries’ economic recovery, analysis Klaus Michelson, an economist at the German Economic Research Institute (DIW) in Berlin.