By Maria Martinez
German business sentiment fell in November for the second consecutive month, the Ifo Institute said Tuesday.
The Ifo business-climate index came in at 90.7 points in November, compared with a downwardly revised 92.5 points in October. Economists surveyed by The Wall Street Journal had forecast it at 90.6 points.
The expectations component declined to 91.5 points from a revised 94.7 points in October, Ifo said.
The drop came due mainly to companies being considerably more skeptical regarding developments over the coming months, as a second wave of coronavirus has interrupted Germany's economic recovery, Ifo said.
Companies' assessment of their current situation also deteriorated, falling to 90.0 points in November from 90.4 points in October.
The Ifo index is based on a poll of about 9,000 companies in manufacturing, services, trade and construction.
Write to Maria Martinez at maria.martinez@wsj.com
(END) Dow Jones Newswires
11-24-20 0429ET
