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Gloomy services outlook pushes down German business morale

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German economic morale down due to gloomy service sector outlook

BERLIN - German business morale deteriorated unexpectedly in January as the outlook for services darkened, a survey showed on Monday, suggesting that Europe’s largest economy got off to a slow start in 2020 after narrowly avoiding a recession last year.

“The German economy is starting the year in a cautious mood,” Ifo President Clemens Fuest said, adding that companies had become more pessimistic regarding their outlook while their assessment of the current situation had improved slightly. Andrew Kenningham from Oxford Economics said the Ifo figures suggested that an improvement in Germany’s export-oriented manufacturing sector would partly be offset by a gradual weakening of domestic demand.

 

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C'mon what is the German word for this? It's the opposite of farfegnugen right?

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