The business climate deteriorated slightly in Germany to 95.9 points in January compared to the previous December figure of 96.3, according to the Ifo index published on Monday. The figure is below market expectations, which expected an increase.
For its part, the expectations index was placed at 92.9 points in January, compared to 93.9 points in December, while the current conditions rose to 99.1 from 98.8 points in the last month of 2019.
"The German economy is starting the new year with some moderation." Entrepreneurs judged their perspectives more skeptically, but their commercial situation was more favorable than recently, says Ifo's president, Clemens Fuest.
The Bundesbank now sees signs of an end to the recession in German industry. The central bank assumes that general economic production had largely stagnated at the end of 2019, after a small growth of 0.1% in the third quarter.