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BERLIN (Reuters): German business sentiment rose in September as companies took a better view of current conditions but their expectations deteriorated as Europe’s largest economy teeters on the brink of recession, a survey showed on Tuesday.
The Ifo institute said its business climate index rose to 94.6 from 94.3 in August. The September reading compared with a consensus forecast for 94.4. “The downturn is taking a breather,” Ifo President Clemens Fuest said in a statement.
Growth dynamics in Germany’s economy have deteriorated but Germany is not in a recession, German Economy Minister Peter Altmaier said on Tuesday.
“We are not in a recession,” the Minister told journalists in Berlin.
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