( ) -q-23- UNDATED (Correspondent Jeremy House) “than in April.” A closely watched survey shows that German business confidence has dropped for the first time after a six-month rise. [CutID: <Cuts> GERMANY-BIZ-CONFIDENCE-house-q-WEDam.mp3 Time: 23s Title: GERMANY-BIZ-CONFIDENCE-house-q-WEDam Out-cue: than in April] TAG: Correspondent Jeremy House reporting. There was a sharp decline of confidence in the manufacturing […]
Audio
German business confidence heads downhill after 6-month rise
( ) -q-23- UNDATED (Correspondent Jeremy House) “than in April.”
A closely watched survey shows that German business confidence has dropped for the first time after a six-month rise.
[CutID: <Cuts> GERMANY-BIZ-CONFIDENCE-house-q-WEDam.mp3
Time: 23s
Title: GERMANY-BIZ-CONFIDENCE-house-q-WEDam
Out-cue: than in April]
TAG: Correspondent Jeremy House reporting. There was a sharp decline of confidence in the manufacturing sector where expectations saw their largest increase since March 2022. That was the month after Russia launched its war in Ukraine.
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VERBATIM: The decline comes as inflation recedes only slowly in Europe’s biggest economy and interest rates continue to increase. The Ifo institute says its monthly index dropped to 91.7 points in May from 93.4 last month. Managers’ outlook for the next six months declined significantly while their assessment of both their current situation was slightly worse than in April.