German companies have slashed their investment plans for this year and next, adding to the challenges plaguing Europe’s largest economy.
In a benchmark survey published on Monday based on responses from 5,000 businesses, the Ifo Institute in Munich said it found they had “significantly reduced their investment plans”.
The institute’s index of net investment plans fell from 14.7 in March, when it carried out its last survey, to 2.2 in the poll carried out in the first three weeks of November. For next year, the index, which measures the difference between the percentage of companies planning to increase investments and those planning to cut them, fell even lower to 1.2.
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