July 25, 2019 / 8:43 AM / 7 months ago

Recession is spreading across German industry, Ifo economist says

BERLIN (Reuters) - Germany’s economy should see slight growth in the second half of this year, but recession is spreading across the industrial sector, Ifo economist Klaus Wohlrabe told Reuters on Thursday.

“German industry faces turbulent times ahead,” Wohlrabe said. “Recession is spreading across all important sectors of German industry ... Business sentiment deteriorated in key sectors except the auto industry (in July).”

German business morale plunged in July to hit its lowest level in more than six years, the Ifo institute’s survey showed earlier on Thursday.

Reporting by Klaus Lauer; Writing by Paul Carrel; Editing by Tassilo Hummel

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