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German Ifo Business Climate Index (September)

Slump in Ifo signals Germany in recession

The further big fall in the Ifo Business Climate Index (BCI) in September adds to the gloom surrounding the German economy as worries about energy prices and declining household real incomes dent business confidence. We expect GDP to contract in both the third and fourth quarters of this year, the only question being how deep and prolonged the recession is.

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