Germany’s business confidence slumped for the fourth straight month in September, but the DAX stock index is defying the economic gloom, nearing record highs.
Germany’s business confidence slumped for the fourth straight month in September, falling to levels not seen since the start of the year, yet the country’s major stock index seems blissfully unaware, pushing towards record highs as if economic woes were just background noise.
The ifo Business Climate Index, which compiles data from about 9,000 businesses across various sectors such as manufacturing, services, trade, and construction, dropped to 85.4 points in September, missing the expected 86, down from 86.6 in July.
This decline reflects a sharp worsening of current business conditions, with the index falling to 84.4 points – the lowest level since July 2020.
“Sentiment has once again deteriorated at companies in Germany. The outlook for the coming…
