IFO’s Economist: German economy far away from substantial upswing

Following the release of the German IFO Business Survey, the institute’s Economist Klaus Wohlrabe said that the “German economy is far away from the substantial upswing.”

Additional quotes

Proportion of German companies that want to raise prices has fallen again.

German economy is lacking momentum.

Industry's export expectations have risen.

Strong economies in China and US seem to support German industry.

Banking turmoil has had no impact on companies' sentiment.

Situation in construction industry has not been worse since December 2015, many cancellations.