Business Sentiment in Germany Declined in November

The survey conducted by the economic think tank Ifo in Germany revealed that the business environment weakened in November. The Ifo business climate index fell from 86.5 points in October to 85.7 points in November. The expectation was for the index to retract to 86.1. Ifo President Clemens Fuest stated, "The German economy is lacking strength." He noted that the decline in business morale was primarily due to a worse assessment of the current situation, but expectations also dropped slightly. The current situation index decreased from 85.7 to 84.3 in November. Additionally, Ifo's expectations index fell from 87.3 in October to 87.2 in November.