German IFO’s Economist: Consumer-facing services like hospitality and tourism have seen falls

Dhwani Mehta FXStreet

Following the release of the German IFO Business Survey, the institute’s Economist Klaus Wohlrabe said that the “consumer-facing services like hospitality and tourism have seen falls in business.”

Additional quotes

Father Christmas has fewer gifts for Germany's economy this year, especially as not everything can be delivered.

Retail is seeing the impact from coronavirus, there are fewer shoppers.

Raw materials and input supply problems have got worse with 82% of industrial companies complaining.

Every second manufacturer is expecting price increases.

Industry export expectations down slightly.

EUR/USD remains below 1.1350

EUR/USD is keeping its range play intact around 1.1335, up 0.08% on a daily basis.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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