In the boardrooms of German corporations to grow according to the new Ifo business climate index. The Index fell to 102.0 points in November to 101.0 points in December, the lowest level in more than two years. “This year, the mess is for the German economy is lean,” said Ifo President Clemens Fuest. Especially in the service sector and the Manufacturing sector, the companies assessed their current situation is worse than the last.

The mood has dampened both in trade as well as among the service providers, as well as in the industry, while it remained in the construction industry stable. For the first time in may 2016, the industry said the Outlook is negative. “Accordingly, the companies adjusted their production plans downwards,” said Fuest. Experts in the difficult environment responsible. “We have risks in front of us a bunch of political, ranging from trade disputes, the United States and China over the Brexit, and Italy’s deficit and, more recently, France’s rejection of the reforms,” said LBBW chief economist Uwe Burkert.

The current business situation was assessed by the interviewed company managers, however, is still significantly better than the prospects. “It is the wind for the German economy is currently lacking on the back,” says Thomas Gitzel by VP Bank. A recession is not imminent, “but the recovery seems to be suffering from old age”.

For the Index, the Ifo Institute has conducted monthly around 9000 companies. You will be asked to assess their current business situation and their expectations for the next six months to assess. Since August, the Index in the descent.

beb/dpa/Reuters