ifo Institute: The Recession in German Industry Continues
German industry remains in recession. Order books shrank in November, with the relevant index falling from minus 4.0 to minus 9.3 points, according to the results of the latest survey conducted by the ifo Institute.
For the automotive industry, the index dropped slightly from plus 0.2 to minus 2.1 points. For the chemical industry, it fell into minus figures from plus 7.3 to minus 19.7 points. The index also dropped significantly for manufacturers of metal products, decreasing from minus 13.6 to minus 28 points.
By contrast, mechanical engineering saw a slight improvement from minus 18.8 to minus 18.1 points. For manufacturers of metal products, the index saw a stronger rise from minus 47.1 to minus 23.5 points. Companies that manufacture electrical equipment reported a slight increase in orders: the indicator rose here from minus 13.3 to minus 11.2 points.
The German Federal Statistical Office will today announce industrial order intake for October.
