German business morale dips again on virus spike

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Frankfurt am Main

German business confidence fell again in November, a closely watched survey said Tuesday, as renewed coronavirus restrictions battered an already struggling services sector. T he Ifo institute’s monthly barometer slid to 90.7 points from 92.5 points in October, marking the second drop in a row after five months of increases. “The second wave of coronavirus has interrupted Germany’s economic recovery,” Ifo president Clemens Fuest said in a statement.
The index dived to a record low in April when Germany ordered factories and shops shut during the first Covid-19 wave, before picking up the following month as business activity gradually resumed. But a spike in infections has forced another round of shutdowns this month, hitting bars, restaurants, hotels, sports.–AFP

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