Ifo Architects Survey: Clear worsening of the business climate

According to the latest results of the quarterly survey of the Ifo Institute of freelance architects, the business climate in Germany at the beginning of the fourth quarter clearly worsened. The impact of the financial crisis has now reached this group. The business climate has clearly worsened. New contracts were signed by only 45 percent of the architects, matching the low level of three years ago. The decline was particularly strong in the case of public-sector customers where order volume is only now a quarter of what it was in the previous quarter.