German business morale drops second month in a row in November

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BERLIN, Nov 24 (Reuters) – German business morale deteriorated for the second month in a row in November as a partial lockdown to contain a second wave of coronavirus infections weighed on the outlook for Europe’s largest economy, a survey showed on Tuesday.

The Ifo institute said its business climate index fell to 90.7 from a downwardly revised 92.5 in October. The two monthly drops in a row followed five months of rises.

“Business uncertainty has risen. The second wave of the coronavirus has interrupted Germany’s economic recovery,” Ifo President Clemens Fuest said. (Reporting by Michael Nienaber Editing by Madeline Chambers)

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