German Economy: Private Consumption Collapses and Business Confidence Declines

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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.

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