German business morale falls on manufacturing 'bottleneck recession'

  • 9/24/2021
  • 00:00
  • 7
  • 0
  • 0
news-picture

BERLIN, Sept 24 (Reuters) - German business morale fell for the third month running in September, hit by supply chain problems that are causing a “bottleneck recession” for manufacturers in Europe’s largest economy, a survey showed on Friday. The Ifo institute said its business climate index fell to 98.8 from an upwardly revised 99.6 in August. A Reuters poll of analysts had pointed to a September reading of 98.9. “Problems in the procurement of raw materials and intermediate products are putting the brakes on the German economy,” Ifo President Clemens Fuest said in a statement. “Manufacturing is experiencing a bottleneck recession.”

مشاركة :