Germany heading into recession this winter - Ifo economist
BERLIN, Oct 25 (Reuters) - Germany is heading into recession, the Ifo economic institute said on Tuesday, forecasting that Europe's biggest economy will contract by 0.6% in the fourth quarter.
The expectations of retailers dropped to a new record low, while the export expectations of industry improved slightly, Ifo surveys chief Klaus Wohlrabe told Reuters on Tuesday as the institute reported that business morale fell in October.
Reporting by Rene Wagner; Writing by Maria Sheahan; editing by Matthias Williams
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