Germany’s IFO: Manufacturing is still stuck in recession

Following the release of the German IFO Business Survey, the institute said that the German economy is showing resilience.

Additional Quotes:

Manufacturing is still stuck in recession.

The signs are that business will be very good this Christmas.

German manufacturing companies planning further production cutbacks

Expects GDP growth of 0.2 percent in the fourth quarter.

It is too early to speak of a turnaround in the German economy.

Industrial orders still are not satisfactory, export prospects have also darkened.