Dusseldorf The mood in the German economy has improved for the third month in a row. This is shown by the business climate index published by the Ifo Institute on Monday. In December, for example, the business climate rose by 2.2 points to 88.6 points compared to the previous month. In general, companies in Germany rate their current situation better than they did in November.
“Pessimism is no longer quite as great for the next few months. Even in retail, an industry that was doing very badly, we now have a few positive signs,” says Ifo President Clemens Fuest in this episode of Handelsblatt Today. Only in the construction sector has the situation deteriorated. The main reasons for this are the increased construction prices and interest rates.
In addition, the positive results give hope that the recession expected for early 2023 could be weaker than previously assumed: “We assumed that the recession would be relatively flat anyway, now it could be a little flatter or with a lot of luck not take place,” said Fuest in an interview with Ina Karabasz. Other factors that speak against a shrinking economy are the government’s relief measures and the constant unemployment figures.
Uniper shareholders agree to nationalization
Since Russia stopped the agreed gas deliveries to Germany, Uniper has gotten into financial difficulties. Around a third of Germany’s gas supply is handled by the energy group. In order to secure this, 99 percent of the group will now be nationalized. The shareholders voted on this at an extraordinary general meeting on Monday. Handelsblatt editor Catiana Krapp classifies the situation.
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