Connect with us

Hi, what are you looking for?

World

Crimea crisis hits German business confidence: Ifo

-

The German Ifo business confidence fell for the first time for five months in March, data showed on Tuesday, as the Crimea crisis hurts sentiment in Europe's biggest economy.

The Ifo economic institute's closely watched business climate index fell to 110.7 points this month from 111.3 points in February.

"The crisis of the emerging economies and the events in Crimea are impacting the confidence of German firms," Ifo chief Hans-Werner Sinn said in a statement.

"Companies expressed far less confidence in future business developments, but were more satisfied with their current business situation," he said.

Ifo calculates its headline index on the basis of companies' assessments of their current business and the outlook for the next six months.

The sub-index measuring current business rose to 115.2 points in March, its highest level in nearly two years, from 114.4 points in February.

By contrast, the outlook sub-index fell to 106.4 points from 108.3 points.

Last week, the ZEW barometer of investor sentiment fell to its lowest level in seven months, also amid uncertainty about the economic fallout from the crisis in Crimea.

The German Ifo business confidence fell for the first time for five months in March, data showed on Tuesday, as the Crimea crisis hurts sentiment in Europe’s biggest economy.

The Ifo economic institute’s closely watched business climate index fell to 110.7 points this month from 111.3 points in February.

“The crisis of the emerging economies and the events in Crimea are impacting the confidence of German firms,” Ifo chief Hans-Werner Sinn said in a statement.

“Companies expressed far less confidence in future business developments, but were more satisfied with their current business situation,” he said.

Ifo calculates its headline index on the basis of companies’ assessments of their current business and the outlook for the next six months.

The sub-index measuring current business rose to 115.2 points in March, its highest level in nearly two years, from 114.4 points in February.

By contrast, the outlook sub-index fell to 106.4 points from 108.3 points.

Last week, the ZEW barometer of investor sentiment fell to its lowest level in seven months, also amid uncertainty about the economic fallout from the crisis in Crimea.

AFP
Written By

With 2,400 staff representing 100 different nationalities, AFP covers the world as a leading global news agency. AFP provides fast, comprehensive and verified coverage of the issues affecting our daily lives.

You may also like:

Tech & Science

One of the nearer-to-home challenges for a mission to Mars with a human crew is radiation.

Social Media

The spike in interest in Bluesky arrived after Donald Trump’s re-election to the White House at the start of November.

Business

US Treasury Secretary Janet Yellen warned that President-elect Donald Trump's sweeping tariff proposals could raise prices for consumers and pressure firms - Copyright AFP/File...

Business

Eighty-five percent of executives expressed concern about losing competitive ground without rapid AI adoption.