The Ifo business climate index fell again in August.
In addition to delivery bottlenecks in many areas, the development at Corona is also depressing the mood on the executive floors.
Munich - The mood in the German economy deteriorated for the second time in a row in August.
The Ifo business climate fell compared to the previous month by 1.3 points to 99.4 points, as the Ifo Institute announced on Wednesday in Munich.
Analysts had expected a decline in the most important economic barometer for Germany, but estimated 100.4 points.
The deterioration is due to less optimistic expectations from companies. “Worries are growing, especially in the hospitality industry and tourism,” commented Ifo President Clemens Fuest. In contrast, companies rated their current situation slightly better than in the previous month. However, delivery bottlenecks for preliminary products in industry and concerns about rising corona infection numbers weighed on the economy.
(dpa)