The mood in the East German economy deteriorated again slightly in March. According to the Ifo Institute in Dresden, the business climate index fell from 89.3 points in February to 88.9 points. Companies assessed their current situation as significantly better than in the previous month, but at the same time significantly lowered their expectations for the coming months.
Industry and service providers with subdued expectations
This trend also applies to industry and service providers. The business climate cooled somewhat in both sectors in March. Although the manufacturing industry and the service sector assessed their current business somewhat better than a month earlier, they were more pessimistic about the next three months.
