The mood in the East German economy continues to deteriorate. The business climate index for eastern Germany fell noticeably from 90.1 to 88.2 points between July and August, according to the ifo Institute in Dresden. The companies surveyed assessed both the current situation and their business expectations for the coming months as significantly worse than in the previous month.
According to the institute, there was an improvement in the economic climate in the manufacturing sector in August. Industrial companies rated their current economic situation significantly better than in July. However, their expectations for future business development fell slightly.
