BERLIN (Reuters) – German business confidence has fallen for the sixth month in a row as Europe’s biggest economy feels the effects of supply bottlenecks and restrictions related to Covid-19, a survey revealed on Friday.
The Ifo institute said its business climate index fell to 94.7 in December, from a revised reading to 96.6 in November. A Reuters poll of analysts pointed to a number of 95.3.
“The German economy is not getting any gifts this year,” said Ifo president Clemens Fuest.
In the manufacturing industry, the index rose in December, after five consecutive drops, due to greater optimism in the sector with the substantial increase in the order backlog. However, companies’ assessments of the situation were slightly worse.
(By Miranda Murray)
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