The mood in the German economy has collapsed due to the war in Ukraine, according to the Munich-based Ifo Institute for Economic Research, which recorded a drop of almost eight points in the relevant index compared to February. [ACCORDING TO THE IFO, THE BUSINESS CLIMATE INDEX FELL TO 90.8 POINTS IN MARCH FROM 98.5 POINTS IN FEBRUARY, DUE TO A RECORD 13.3-POINT DROP IN BUSINESS EXPECTATIONS.
It is noteworthy that this drop also exceeds the reduction in expectations recorded with the outbreak of the coronavirus pandemic in March 2020 (11.8 points). [MOREOVER, BUSINESSES ASSESS THEIR CURRENT SITUATION AS WORSE THAN DURING THE PANDEMIC AND EXPECT DIFFICULTIES IN THE FUTURE. IN INDUSTRY, THE INDEX FELL FASTER THAN EVER, WITH COMPANIES LOSING IN
(CNA)
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