The Ifo Business Climate Index for Germany fell to 102.8 in October of 2018 from 103.7 in September and slightly below market expectations of 103. The gauge of current conditions went down to 105.9 from 106.6 and the business expectations sub-index also fell to 99.8 from 100.9. Sentiment deteriorated among manufacturers (19.2 from 23.3 in September), service providers (31.4 from 32.7), wholesalers & retailers (10.1 from 11.7) but rose among constructors (32.7 from 31.8). Business Confidence in Germany averaged 98.10 Index Points from 1991 until 2018, reaching an all time high of 109.80 Index Points in January of 1991 and a record low of 80.10 Index Points in March of 2009.
Business Confidence in Germany is expected to be 102.70 Index Points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Business Confidence in Germany to stand at 103.20 in 12 months time. In the long-term, the Germany Ifo Business Climate Index is projected to trend around 100.00 Index Points in 2020, according to our econometric models.
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