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German business mood sours as recession looms

German business mood sours as recession looms

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Germany’s business climate worsens significantly in July, as an energy crisis pushes Europe’s largest economy closer to a recession this year. – EPA pic, July 25, 2022.

THE business climate in Germany worsened “significantly” this month, according to a key survey published today, as an energy crisis pushed Europe’s largest economy closer to a recession this year.

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The Ifo institute’s monthly confidence barometer, based on a survey of 9,000 companies, fell to 88.6 points in July from 92.2 points last month and the “lowest level since June 2020” near the start of the coronavirus pandemic.  


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