The index stood at 86.6 points in August after 87 points in July, the lowest score since February. However, analysts had expected a lower average score of 86.5 points.
Ifo President Clemens Fuest expressed concern that the German economy was increasingly entering a crisis.
The sub-index assessing the current situation fell to 86.5 from 87.1 in July, in line with experts’ expectations. The sub-index reflecting the assessment of business prospects also worsened, falling to 86.8 from 87 in July, while analysts had expected a further deterioration to 86.5.
If the economy is not doing well, there will not be a need for so many skilled workers.
In Germany, the proportion of companies reporting a shortage of skilled workers fell slightly in July, according to the results of a survey conducted by the German economic research institute ifo.
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