{"id":1657675,"date":"2022-09-26T06:05:44","date_gmt":"2022-09-26T10:05:44","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1657675"},"modified":"2022-09-26T06:06:23","modified_gmt":"2022-09-26T10:06:23","slug":"german-business-morale-slumps-as-winter-recession-looms","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/german-business-morale-slumps-as-winter-recession-looms\/","title":{"rendered":"German business morale slumps as winter recession looms"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">16<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fgerman-business-morale-slumps-as-winter-recession-looms%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1657675&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>BERLIN (Reuters) \u2013     The German economy is heading for recession, the Ifo institute said on Monday, reporting a stronger-than-forecast plunge in business morale across all sectors as Germany scrambles to avoid a gas shortage this winter.<\/p>\n<p>The Ifo institute said its business climate index fell to 84.3 from 88.6 in August, posting a more severe drop than the 87.0 forecast by economists according to a Reuters poll.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\">\n<\/div>\n<p>It was the lowest level seen since the early stages of the COVID-19 pandemic in May 2020.<\/p>\n<p>Graphic: German business sentiment    https:\/\/graphics.reuters.com\/GERMANY-ECONOMY\/BUSINESSSENTIMENT\/gkvlgrmlxpb\/chart.png    <\/p>\n<p>The downturn was visible across all four sectors of the German economy, Ifo said, adding that pessimism had increased considerably looking ahead to the coming months.<\/p>\n<p>\u201cWe\u2019re seeing a fat minus on all fronts,\u201d Ifo economist Klaus Wohlrabe said. \u201cPrice expectations have risen again, with more than one in two companies announcing price increases.\u201d<\/p>\n<p>In August, German producer prices rose 7.9% on the previous month, with soaring energy prices driving the trend.<\/p>\n<p>The September Ifo survey points \u201cmore than ever to a recession in the winter half of the year\u201d as the extremely high cost of energy imports makes Europe\u2019s largest economy poorer, said Commerzbank economist Joerg Kraemer.<\/p>\n<p>\u201cThe energy price shock is causing consumer purchasing power to collapse and making production unprofitable for many companies,\u201d Kraemer said.<\/p>\n<p>Russia has drastically reduced gas flows to Germany as part of an economic stand-off over the Ukraine war, sending energy bills soaring for German households and businesses and forcing the German government to consider rationing this winter.<\/p>\n<p>On Monday, the OECD forecast that the German economy would contract 0.7% next year, slashed from a June estimate for 1.7% growth.<\/p>\n<p> (Reporting by Rachel More, Frank Siebelt, Christina Amman and Miranda Murray; Editing by Alex Richardson)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/german-business-morale-slumps\/attachment\/file-photo-a-woman-wearing-a-protective-mask-walks-past\/\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/09\/tagreuters.com2022binary_LYNXMPEI8P08S-BASEIMAGE.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI8P08S-BASEIMAGE\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>BERLIN (Reuters) \u2013 The German economy is heading for recession, the Ifo institute said on Monday, reporting a stronger-than-forecast plunge in business morale across all sectors as Germany scrambles to<\/p>\n","protected":false},"author":66,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1657675","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1657675","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1657675"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1657675\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1657675"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1657675"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1657675"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}