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2024.01.2508:50:00UTC+00German Business Sentiment Weakens In January

Germany's business confidence weakened unexpectedly in January, survey results from the ifo Institute showed on Thursday.

The business confidence index fell to 85.2 in January from 86.3 in December. The reading was forecast to climb to 86.7.

"The German economy is stuck in recession," Ifo Institute President Clemens Fuest said. Companies assessed their current situation as worse. Moreover, their expectations for the months ahead were more pessimistic.

The current situation index posted 87.0, down from 88.5 a month ago. Likewise, the expectations indicator dropped to 83.5 in January from 84.2 in the previous month.

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