BERLIN – A closely watched survey shows German executives were slightly more pessimistic than expected in December.
The Ifo institute said Thursday its business climate index for December fell to 108.7 points, performing worse than expected by economists who had predicted it would remain unchanged at 109.
Firms surveyed for the poll assessed their current situation worse at 112.8 points, down from 113.4 in November, while their outlook for the coming months remained unchanged at 104.7.
The German government in October trimmed its economic growth forecast for this year to 1.7 per cent from 1.8 per cent, citing weakness in China and other major emerging economies. It left its 2016 forecast unchanged at 1.8 per cent.