German business confidence drops to lowest since July 2020, signaling economic slowdown.

German business confidence fell in November, with the Ifo Business Climate Index dropping to 85.7 from 86.5 in October. The current situation index fell to 84.3, its lowest since July 2020, and the expectations index declined slightly to 87.2. Manufacturing and the service sector showed worsening sentiment, while trade saw an improvement. The German economy is forecast to shrink in the fourth quarter, with growth of only 0.5% expected in 2025.

November 25, 2024
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