Berlin (Reuters) – The mood in the boardrooms of German companies has deteriorated in May for the first time since October.
The barometer of business confidence fell minimally to 108.5 meters from 108.6 points in April, as the Munich-based Ifo Institute announced on Friday to its survey of 7,000 managers. This is the first decline after six increases last. Economists polled by Reuters had expected 108.3 meters. “The German economy remains on track,” Ifo President Hans-Werner Sinn said yet. The managers assessed their situation a bit better, but their business prospects slightly worse than last month.
The German economy is currently on the rise, but has recently again felt more headwinds. Thus, growth has more than halved to beginning because waning exports. The gross domestic product increased from January to March by the ongoing consumption and construction boom of 0.3 percent the previous quarter to. The end of 2014 it had passed to a gain of 0.7 percent. [ID: nL5N0YC3JH]
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