Energy supply improvements brighten Germany’s economic picture -Ifo
1:43 pm Tuesday, November 22nd, 2022
BERLIN (Reuters) – Germany’s economic picture has become slightly brighter, with improvements in gas supply, in particular, having an effect, the head of Germany’s Ifo institute told Reuters on Tuesday.
Clemens Fuest said an unexpected month-on-month fall in producer prices and easing supply chain disruptions are cause for optimism, but “the most important point is that the gas supply situation has brightened considerably”.
Fuest highlighted a warm October, full gas storage facilities and plans for liquefied natural gas (LNG) terminals as positive factors. “All this suggests the scenario is brightening,” he said.
Fuest said his statements were not a forecast for the upcoming Ifo business climate index to be released on Thursday.
Analysts polled by Reuters expect the index to rise slightly in November to 85.0 after a reading of 84.3 the prior month.
(Reporting by Reinhard Becker; Writing by Miranda Murray. Editing by Jane Merriman)
