Rolling coverage of the latest economic and financial news
- Latest: IFO survey shows German economy picking up
- Hang Seng index has jumped 1.5% today
- Pro-democracy party triumphs
- Full story: Hong Kong voters deliver landslide victory for pro-democracy campaigners
The key points from IFO’s healthcheck on Germany:
-Manufacturing still stuck in recession.
-Mfg firms planning further production cutbacks
-The signs are there that business will be very good this Christmas (assuming we’re talking retail sector)
-Econ is showing resilience
-Expects 0.2% GDP in Q4.
IFO reckons that this Christmas will be “very good” for German businesses, following today’s pick-up in confidence.
It predicts that the economy will grow by 0.2% in the current quarter, following the 0.1% growth in Q3, led by consumer spending, construction, and the government.
“Companies tell us that industrial order backlogs are still not satisfactory,”