German companies pessimistic about coming months: Index
IFO Business Climate Index maintains decline in Oct amid manufacturing industry disruptions, falling capacity utilization
Germany's IFO Business Climate Index fell for the fourth month in a row in October, according to fresh data on Monday.
Stressing that supply problems have posed difficulties for firms, the IFO institute said: "Companies' assessments of their current situation are also less positive."
Due to pandemic measures, including lockdowns and suspensions of production, a shortage of semi-conductors emerged, causing significant manufacturing industry disruptions globally.
The institute noted that the capacity utilization rate in the German manufacturing industry fell in October by 2.1 percentage points to 84.7%.
Companies' expectations are also cloudy for the coming period, it added.
"Businesses are notably less satisfied with their current situation. They are also more pessimistic about the coming months," it underlined.Anadolu Agency website contains only a portion of the news stories offered to subscribers in the AA News Broadcasting System (HAS), and in summarized form. Please contact us for subscription options.