FRANKFURT, Sept. 24 (Xinhua) -- Supply chain bottlenecks, among other factors, have been weighing on business sentiment in Germany, with expectations falling for the third month in a row, according to a survey published by German research organization ifo Institute on Friday.
The ifo Business Climate Index went down to 98.8 points in September from 99.6 points in August, signaling worsening business sentiment in Germany.
"Companies are less satisfied with their business (results). They are also more skeptical about the coming months," Clemens Fuest, President of the Munich-based research institute, said in a statement.
The slide is largely attributed to the supply chain bottlenecks that are driving up inflation across advanced economies in the west.
The slide is largely attributed to supply chain bottlenecks that have been driving up inflation across advanced economies in the west. Manufacturing companies have been bearing the brunt of the negative business climate, the survey revealed.
The construction sector, however, has reported a more positive assessment about the current situation and future outlook. The index for the trade sector remained unchanged while that of the service sector improved slightly.
The ifo Business Climate is based on around 9,000 monthly responses from businesses in the manufacturing, service, trade, and construction sectors. It provides a glimpse of managers' assessments about the current and future business climate. Enditem
