By Maria Martinez'German economy is slipping into recession,' Ifo president saysBusiness confidence in Germany worsened considerably in September as companies turned more pessimistic due to the energy crisis. The Ifo business-climate index fell to 84.3 points in September from a revised figure of 88.6 points in August, data from the Ifo Institute showed Monday. "The German economy is slipping into recession," Ifo President Clemens Fuest said. Companies assessed their current business as clearly worse and pessimism regarding the coming months has grown, he said. The Ifo index is based on a poll of about 9,000 companies in manufacturing, services, trade and construction.

Source: Wall Street Journal September 26, 2022 20:24 UTC