Sun. Sep 20th, 2020

German business confidence rises; Hong Kong shares surge – business live

Rolling coverage of the latest economic and financial news

9.32am GMT

The key points from IFO’s healthcheck on Germany:

IFO Comments;
-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.

9.31am GMT

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,”

Continue reading…Rolling coverage of the latest economic and financial newsLatest: IFO survey shows German economy picking up Hang Seng index has jumped 1.5% todayPro-democracy party triumphsFull story: Hong Kong voters deliver landslide victory for pro-democracy campaigners 9.32am GMTThe key points from IFO’s healthcheck on Germany:IFO Comments;-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. 9.31am GMTIFO 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,” Continue reading…