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BERLIN, Oct 25 (Reuters) – German business morale fell slightly in October, although it still beat analysts’ estimates, as companies’ prospects improved despite less satisfaction with current business conditions, a survey showed on Tuesday.
The Ifo Institute said its business climate index was 84.3, following a revised reading of 84.4 in September. A Reuters poll of analysts pointed to a reading of 83.3 in October.
The survey’s expectations index rose to 75.6 from 75.3 last month, the first rise since May.
“Their prospects have improved but they are still worried about the coming months, as the German economy faces a difficult winter,” said Ifo President Clemens Fust.
The German government maintains Europe’s largest economy.
sliding into failure
Next year, as the energy crisis, inflation and supply bottlenecks will take their toll.
Ahead of the statistics office’s release on Friday, experts polled by Reuters expected the German economy to contract by 0.2% in the third quarter from the previous quarter.
Ifo predicts that Germany will contract by 0.6%
In the fourth quarter
. (Reporting by Miranda Murray and Rachel Moore; Editing by Kirsti Knolle)
