ifo Business Climate Index Falls (August 2023)

ifo Business Climate Index Falls (August 2023)

Sentiment among German managers has darkened further. The ifo Business Climate Index slipped to 85.7 points in August, down from 87.4 points in July. This is its fourth consecutive fall. Assessments of the current situation fell to their lowest level since August 2020. Moreover, companies are increasingly pessimistic about the months ahead. The German economy is not out of the woods yet.