Business cycle: Ifo: Companies want to cut fewer jobs
Confidence in the German economy is growing. This is also reflected in the plans of companies. However, things are not looking good in all sectors.
German companies plan to reduce jobs at a slightly slower pace, according to the Ifo Institute. The Ifo employment barometer rose to 95.5 points in October from 95.1 points in September. The service sector plans to increase jobs, while the industrial sector, particularly the automotive industry, expects further job cuts. In contrast, manufacturers of data processing and electronic devices plan to make more new hires. The German government forecasts 1.3% economic growth this year, while the Ifo Institute expects 1.4%.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
