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Business

Business Confidence Slips in September

The Ifo economic research institute announced on Monday that German business confidence appeared to stabilize somewhat in September, with the widely watched Ifo business climate index slipping only fractionally this month.The Ifo's business climate index slipped to 95.2 points in September from 95.3 points in August, Ifo said in a statement. In August, the index had fallen by 0.3 point. Ifo President Hans-Werner Sinn said that "following the slight decline in August, the business climate index was nearly unchanged in September." For its monthly survey, Ifo polls around 7,000 companies about their assessment of current business and their expectations for the next six months. A breakdown of the data showed that while companies were feeling better about their current situation, their business expectations for the coming months had deteriorated slightly. The current sentiment sub-index edged up to 94.8 points in September from 94.7 points in August. But the expectations sub-index declined slightly, slipping to 95.7 points from 95.9 points, according to the survey. (AFP)