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German Business Morale Falls on Angst amid Virus Cases Spike

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

Source: Reuters


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