Economic situation - Ifo Institute: car industry in a downturn
The mood in the German automotive industry deteriorated further in November. Although the companies surveyed by the Ifo Institute assessed their current business situation as better than in the previous month, they are even more pessimistic about the coming months.
The business climate index for the most important industrial sector fell for the third time in a row to minus 16.8 points, following minus 16.3 points in October. Specialist consultant Anita Wölfl said: "The German automotive industry is not emerging from its economic downturn phase." Sentiment collapsed in June and has remained at this level ever since.
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- Despite showing an improvement in the current business situation, automakers in Munich, Germany, as reported by the Ifo Institute for Economic Research, remain cautious about the future due to the ongoing downturn in the auto industry.
- The significant decrease in the business climate index for the German auto industry, as monitored by the Ifo Institute, indicates a persistent struggle for companies in this sector, which is based in Germany.
- As Germany's auto industry continues to grapple with this economic downturn, institutes like the Ifo Institute provide valuable insights into the challenges facing both individual companies and the industry as a whole.
- The downward trend of the German automotive sector, observed by the Ifo Institute for Economic Research, has been ongoing since the downturn began in June, causing concern for both companies operating domestically and those in various parts of the global market.
- In light of the German auto industry's ongoing downturn, as reported by the Ifo Institute, international organizations and policymakers may want to explore potential remedies to bolster the industry, support companies, and boost the overall economy.
Source: www.stern.de
