Business confidence in Germany fell to its lowest point in 26 years this month, but there is a silver lining to this cloud as some economists are predicting that the end of the freefall could be in sight. A survey released on Wednesday by the Munich-based Ifo economic research institute indicated that the business confidence index in Europe’s largest economy slipped in March by 0.5 points to 82.1 points . February’s rating of 82.6 points was already the lowest business confidence has sunk since West Germany and East Germany were reunited in 1990. Ifo surveyed 7,000 German companies in manufacturing, construction, wholesaling and retail to get their data. “Firms have reported a further worsening of their current business situation,” the institute said in a statement, adding that “an economic turning point has not yet been reached, in the opinion of the survey participants.” Economic optimism Ifo president Hans-Werner Sinn says an economic turning point has not yet been reached While the March Ifo indicator gauging current business conditions slumped from 84.3 points in February to 82.7 points, the index’s expectations component jumped for the third consecutive month from 80.9 to 81.6. Many economists believe that the German economic slowdown could… Read full this story
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