This is the original release from Ifo Institute:
Sentiment among German firms weakened further this month. The Ifo Business Climate Index fell to 102.8 points in October from 103.7 points in September. Firms were less satisfied with their current business situation and less optimistic about the months ahead. Growing global uncertainty is increasingly taking its toll on the German economy.
In manufacturing, the index fell significantly due to markedly less optimistic business expectations. Assessments of the current business situation fell to their lowest level since March 2017. Incoming orders continued to decline. Capacity utilization fell by 0.5 points to 87.1 percent.
In the services sector, the business climate deteriorated due to far less favorable assessments of the current business situation. Business expectations, by contrast, were upwardly revised somewhat.
In trade, the index also declined this month. Traders scaled back their assessments of both the current business situation and their expectations. The index declined far more sharply in retailing than in wholesaling. More retailers intend to increase prices.
In construction, the business climate index hit another record high. Assessments of the current business situation were far better. Business expectations, by contrast, were scaled back slightly.
Clemens Fuest
President of the Ifo Institute
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