German Ifo business climate dropped to 102.0 in November, down from 102.9 and missed expectation of 102.3. Current assessment gauge dropped to 105.4, down from 106.1 and missed expectation of 105.6. Expectations gauge dropped to 98.7, down from 99.7, missed consensus of 99.3.
Ifo President Clemens Fuest noted in the release that “Together with other indicators, these results point to 0.3 percent economic growth in the fourth quarter at most. The German economy is cooling down. ”
