German business morale fell in October, weighed down by companies’ concerns about rising coronavirus infection rates that are making them more sceptical about the coming months, a survey showed on Monday.
The Ifo institute said its business climate index fell to 92.7 from a downwardly revised 93.2 in September. The fall followed five months of rises.
“Companies are considerably more skeptical regarding developments over the coming months,” Ifo President Clemens Fuest said in a statement. “In view of rising infection numbers, German business is becoming increasingly worried.”
Reporting by Paul Carrel; editing by Thomas Seythal