November 25, 2019 / 9:26 AM / 16 days ago

German industry orders still 'not satisfactory' - Ifo

BERLIN (Reuters) - Germany’s Ifo institute on Monday said that although its headline business climate index rose slightly in November, Germany’s manufacturing sector is still stuck in recession.

“Companies tell us that industrial order backlogs are still not satisfactory,” the institute’s chief economist, Klaus Wohlrabe, told Reuters in an interview.

Growth in the fourth quarter will be driven by a strong domestic economy, the construction sector and public spending, he added.

Reporting by Rene Wagner; Writing by Tassilo Hummel; Editing by Paul Carrel

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