Latest news with #ClemensFuest
Fibre2Fashion
28-07-2025
- Business
- Fibre2Fashion
German business sentiment rises slightly in July: ifo
The ifo Business Climate Index edged up to 88.6 points in July, compared to 88.4 in June, indicating a slight improvement in sentiment among German companies. Companies were somewhat more satisfied with their current business situation, while expectations remained largely unchanged. The upturn in the German economy remains sluggish. Manufacturing sentiment strengthened in July, with the balance improving from -13.9 to -11.8. Companies assessed their current situation as noticeably better, with expectations continuing to brighten. Yet, incoming orders still lack momentum, and capacity utilisation increased only marginally from 77 to 77.2 per cent, according to the ifo Institute. Germany's ifo Business Climate Index rose slightly to 88.6 in July from 88.4 in June, reflecting modest improvement in sentiment. Manufacturing sentiment improved, though incoming orders remained weak. Capacity utilisation edged up to 77.2 per cent. Trade sentiment declined due to pessimistic expectations. Overall, the current situation index rose to 86.5, while expectations inched up to 90.7. 'In trade, the index weakened somewhat due to more pessimistic expectations. Although the current situation improved slightly, it remained unsatisfactory,' said Clemens Fuest, president of the ifo Institute . The sector's balance declined to -20.2 in July from -19.2 in June. Overall, the assessment of the current situation improved to 86.5 from 86.2, while business expectations edged up to 90.7 from 90.6, continuing their steady upward trend since the start of 2025. Fibre2Fashion News Desk (SG)
Qatar Tribune
26-07-2025
- Business
- Qatar Tribune
Germany's business morale hits highest level in over a year
Agencies German business morale rose to its highest level in over a year in July, a closely-watched survey showed Friday, reinforcing hopes that Germany's struggling economy is slowly recovering. The Ifo institute's confidence barometer rose slightly to 88.6 points, up from 88.4 a month earlier, its seventh straight increase and the highest level since May 2024. The rise was, however, slightly smaller than that expected by analysts polled by financial data firm FactSet. 'Sentiment among German companies has improved somewhat,' Ifo president Clemens Fuest said. But 'the upturn in the German economy remains sluggish,' he added. Hit by high production costs as well as increasingly fierce Chinese competition for key exports such as cars, Europe's top economy was in the doldrums even before US President Donald Trump slapped it with new tariffs in April. But new Chancellor Friedrich Merz has pressed ahead with tax breaks and massive spending plans in a bid to revive growth, and an uptick in data since the start of the year has boosted hopes that the worst might be over. 'A wave of optimism seems to have caught the German economy,' ING bank analyst Carsten Brzeski said, though he cautioned that Germany was 'highly affected' by trade tensions in the short-term. US and European Union diplomats are currently negotiating ahead of the latest deadline set by Trump, who has threatened a further blanket duty of 30 percent on EU exports after August 1 if no agreement is reached.
Kuwait Times
26-07-2025
- Business
- Kuwait Times
Germany's business morale hits highest level in over a year
BOTTROP: The coking plant of ArcelorMittal Bremen at the Bottrop site is pictured from the Tetraeder viewing platform in Bottrop, western Germany.- AFP FRANKFURT: German business morale rose to its highest level in over a year in July, a closely-watched survey showed Friday, reinforcing hopes that Germany's struggling economy is slowly recovering. The Ifo institute's confidence barometer rose slightly to 88.6 points, up from 88.4 a month earlier, its seventh straight increase and the highest level since May 2024. The rise was, however, slightly smaller than that expected by analysts polled by financial data firm FactSet. 'Sentiment among German companies has improved somewhat,' Ifo president Clemens Fuest said. But 'the upturn in the German economy remains sluggish,' he added. Hit by high production costs as well as increasingly fierce Chinese competition for key exports such as cars, Europe's top economy was in the doldrums even before US President Donald Trump slapped it with new tariffs in April. But new Chancellor Friedrich Merz has pressed ahead with tax breaks and massive spending plans in a bid to revive growth, and an uptick in data since the start of the year has boosted hopes that the worst might be over. 'A wave of optimism seems to have caught the German economy,' ING bank analyst Carsten Brzeski said, though he cautioned that Germany was 'highly affected' by trade tensions in the short-term. US and European Union diplomats are currently negotiating ahead of the latest deadline set by Trump, who has threatened a further blanket duty of 30 percent on EU exports after August 1 if no agreement is reached. — AFP
The Star
25-07-2025
- Business
- The Star
German business sentiment rises, but recovery faces external threats
BERLIN, July 25 (Xinhua) -- Germany's business confidence rose in July to its highest level in over a year, a survey showed Friday. However, economists cautioned that the recovery remains fragile amid persistent external headwinds, including the U.S. tariffs threat. The ifo Business Climate Index, based on a survey of around 9,000 companies, edged up to 88.6 in July from 88.4 in June, marking the seventh consecutive month of improvement. While firms expressed a more favorable view of current business conditions, their expectations for the months ahead remained subdued. Sentiment in the manufacturing sector improved slightly but stayed at relatively low levels. The ifo Institute reported that industrial capacity utilization rose from 70 percent to 77.2 percent, though this still reflects below-average levels amid weak incoming orders. In contrast, the services sector posted a decline, driven in part by a significant deterioration in expectations among IT service providers. Analysts said the downturn may be linked to heightened uncertainty, as the European Union considers retaliatory measures including tariffs or regulatory actions against U.S. technology and digital firms in response to proposed trade actions by Washington. "Companies were slightly more satisfied with current business, but their expectations remained largely unchanged," said ifo President Clemens Fuest. "The upturn in the German economy remains sluggish." Carsten Brzeski, global head of macro at ING Research, described the mood as a "wave of optimism" but warned that the outlook is clouded by trade tensions, a stronger euro, and the threat of U.S. tariffs -- all factors that could weigh on Germany's export-driven economy. A separate ifo survey published Thursday underscored growing concern among German manufacturers. More than 60 percent of 1,500 companies surveyed reported being negatively impacted by the U.S. tariffs, which are set to take effect on Aug. 1 with duties of 30 percent. One-third of respondents said they expect the U.S. market to lose importance by the end of President Donald Trump's term. Trade tensions are already shaping investment decisions: around 30 percent of companies said they had postponed their U.S. expansion plans, while 15 percent had canceled them altogether. Despite the external pressures, Brzeski noted that German companies are increasingly turning their attention to opportunities under the new government's economic agenda. Earlier this week, the German government, in collaboration with major corporations, launched a sweeping investment plan at a business summit in Berlin. Valued at 631 billion euros (739 billion U.S. dollars), the initiative aims to revive Europe's largest economy through 2028, focusing on manufacturing, research and development, and infrastructure construction. (1 euro = 1.17 U.S. dollar)
Straits Times
25-07-2025
- Business
- Straits Times
Business morale in Germany hits highest level in over a year
Find out what's new on ST website and app. FRANKFURT, Germany - German business morale rose to its highest level in over a year in July, a closely-watched survey showed on July 25, reinforcing hopes that Germany's struggling economy is slowly recovering. The Ifo institute's confidence barometer rose slightly to 88.6 points, up from 88.4 a month earlier, its seventh straight increase and the highest level since May 2024. The rise was, however, slightly smaller than that expected by analysts polled by financial data firm FactSet. 'Sentiment among German companies has improved somewhat,' Ifo president Clemens Fuest said. But 'the upturn in the German economy remains sluggish,' he added. Hit by high production costs as well as increasingly fierce Chinese competition for key exports such as cars, Europe's top economy was in the doldrums even before US President Donald Trump slapped it with new tariffs in April. But new Chancellor Friedrich Merz has pressed ahead with tax breaks and massive spending plans in a bid to revive growth, and an uptick in data since the start of the year has boosted hopes that the worst might be over. Top stories Swipe. Select. Stay informed. Singapore SMRT to pay lower fine of $2.4m for EWL disruption; must invest at least $600k to boost reliability Singapore MRT service changes needed to modify 3 East-West Line stations on Changi Airport stretch: LTA Singapore S'pore could have nuclear energy 'within a few years', if it decides on it: UN nuclear watchdog chief Asia Live: Thailand-Cambodia border clashes continue for second day Life 'Do you kill children?': Even before independence, S'pore has always loved its over-the-top campaigns Singapore Lung damage, poor brain development, addiction: What vaping does to the body Singapore Fine for couple whose catering companies owed $432,000 in salaries to 103 employees Singapore Kopi, care and conversation: How this 20-year-old helps improve the well-being of the elderly 'A wave of optimism seems to have caught the German economy,' ING bank analyst Carsten Brzeski said, though he cautioned that Germany was 'highly affected' by trade tensions in the short-term. US and European Union diplomats are currently negotiating ahead of the latest deadline set by Mr Trump, who has threatened a further blanket duty of 30 per cent on EU exports after Aug 1 if no agreement is reached. AFP
