The German economy faces increasing challenges as the latest data reveals a decline in private consumption and a drop in the IFO business confidence index. With household consumption decreasing and trade numbers showing a slump, Germany grapples with economic headwinds that contribute to a 3.8% year-on-year contraction in industrial performance.
German Economy’s Downturn Driven by Drop in Private Consumption – Bloomberg
Germany’s business outlook improved for a third month in November, pointing to an impending recovery for an economy that is probably in a recession and beset by a budget crisis.
The Ifo institute’s gauge of expectations rose to a six-month high of 85.2, less than the 85.8 median estimate in a Bloomberg survey. Its index of the business climate index also rose.
🇩🇪 #GERMANY NOV. IFO BUSINESS CONFIDENCE INDEX 87.3; EST. 87.5 – BBG
*GERMANY NOV. IFO CURRENT ASSESSMENT INDEX 89.4; EST. 89.5
*GERMANY NOV. IFO EXPECTATIONS INDEX 85.2; EST. 85.8— Christophe Barraud🛢🐳 (@C_Barraud) November 24, 2023
#Germany GDP in 3Q2023: -0.1%Q, -0.8%Y, household final #consumption expenditure down, foreign #trade decreased, economic performance in #industry -3.8%Y, chart @destatis t.co/TYHdeunb3j pic.twitter.com/BDTgvJQSAK
— ACEMAXX ANALYTICS (@acemaxx) November 24, 2023
#Germany's leading business #sentiment indicator, the #ifo index vs. German #GDP growth.
Don't shoot the messenger. pic.twitter.com/YO0L7Skq76— jeroen blokland (@jsblokland) November 24, 2023
And some ECB officials still talk about possible further hikes. One could not make it up. pic.twitter.com/gN54PAkRrk
— Michael A. Arouet (@MichaelAArouet) November 24, 2023
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