Sentiment in the German Automotive Industry Worsens Again
The business climate in Germany’s automotive industry darkened in August. The indicator fell to -24.7 points, down from -18.5 points* in July. “Sentiment in the automotive industry is nosediving,” says ifo industry expert Anita Wölfl. The reason for that are the extremely pessimistic business expectations for the next six months. They plummeted to -40.5 points, down from -29.5 points* in July. The indicator for assessing the current business situation fell by 0.3 points to -7.2 points.
“Companies in the German automotive industry are suffering from a lack of new orders, especially from abroad. That is now also reflected in the personnel planning,” says Wölfl. The indicator for export expectations dropped significantly for the third time in a row and is now at -29.6 points – the lowest it has been in a long time. The indicator for employee expectations fell to -27.6 points, down from -15.6 points* in July.
* Seasonally adjusted
Publication
ifo Konjunkturperspektiven is a monthly German-language online publication that presents the latest results from ifo’s business surveys in the form of graphics and tables.
