About: http://data.cimple.eu/news-article/28a6db1bde0c49e106b24f6e1cf9707af7e96fb663a60eb14b5d7f88     Goto   Sponge   NotDistinct   Permalink

An Entity of Type : schema:NewsArticle, within Data Space : data.cimple.eu associated with source document(s)

AttributesValues
rdf:type
schema:articleBody
  • German business confidence in October fell for the first time since April, as businesses become increasingly anxious about the second wave of the coronavirus pandemic, a closely watched survey showed Monday. The Ifo institute's monthly barometer slid to 92.7 points from a seasonally adjusted 93.2 points in September, marking the first drop after five months of rises. "Sentiment among business leaders has clouded over... Companies are considerably more sceptical regarding developments over the coming months," Ifo President Clemens Fuest said. However, the reading is broadly in line with the 94.5 level of October 2019, suggesting that German business has a long way to go to revisit the lows recorded during the damaging lockdowns in the spring. The figure "is not weak enough to fear another collapse of the economy," said Carsten Brzeski at ING, but the outcome "definitely marks the end of the rebound and the start of double-dip (recession) fears." The Ifo index dived to a record low in April when Germany ordered factories and shops shut, before picking up the following month as business activity gradually resumed. But as infections rise again in Germany, which registered its highest-ever number of new cases in recent days, some cities including Berlin have introduced restrictions on opening hours for bars and restaurants and mandated mask wearing. "Everything seems like a deja-vu experience," KfW economist Fritzi Koehler-Geib said. "It's therefore not surprising that the business climate is clouding over." Ifo's data, based on 9,000 respondents, also demonstrated how uneven the recovery is in Germany, with sentiment strengthening in its key manufacturing industry, while worsening signficantly in the services sector, where restrictions and social distancing are more acutely felt. "We still expect GDP to increase in the fourth quarter, thanks to the continued catch-up growth in the manufacturing sector, but prospects further ahead look increasingly poor," Andrew Kenningham of Capital Economics said. German gross domestic product is expected to shrink 5.4 percent in 2020, according to a group of think-tanks including Ifo, with the economy not set to recover to pre-crisis levels until the fourth quarter of 2021. edf/hmn/bmm
schema:headline
  • German business confidence dips on virus nerves
schema:mentions
schema:author
schema:datePublished
http://data.cimple...sPoliticalLeaning
http://data.cimple...logy#hasSentiment
http://data.cimple...readability_score
http://data.cimple...tology#hasEmotion
Faceted Search & Find service v1.16.115 as of Oct 09 2023


Alternative Linked Data Documents: ODE     Content Formats:   [cxml] [csv]     RDF   [text] [turtle] [ld+json] [rdf+json] [rdf+xml]     ODATA   [atom+xml] [odata+json]     Microdata   [microdata+json] [html]    About   
This material is Open Knowledge   W3C Semantic Web Technology [RDF Data] Valid XHTML + RDFa
OpenLink Virtuoso version 07.20.3238 as of Jul 16 2024, on Linux (x86_64-pc-linux-musl), Single-Server Edition (126 GB total memory, 5 GB memory in use)
Data on this page belongs to its respective rights holders.
Virtuoso Faceted Browser Copyright © 2009-2025 OpenLink Software