The German economy starts to wind into the new year. The Ifo Index fell in January to the lowest level in almost three years. The economic barometer fell to 99.1 points from previously 101,0 counters, such as the Munich-based Ifo Institute said. This is the fifth decline in a row. “The German economy is in a downturn,” said Ifo President Clemens Fuest.

The executives assessed their current business situation worse, as well as the prospects for the next six months. The ifo Institute has conducted monthly around 9000 Manager. In all of the major sectors, the mood clouded over – in the trade, as well as among the service providers in the construction industry and in the industry. “In all major industrial branches, except chemical industry, deterioration in the business climate,” said Fuest.

graphic SPIEGEL ONLINE economy: The ifo business climate

The Institute has recently expanded its economic forecast for Germany substantially reduced. The gross domestic product is expected to rise in 2019 by only 1.1 percent. Also, the Federal government now expects a significant dip in growth. According to the MIRROR, she goes out to 2019, only a growth of 1,0 percent.

the problems of The auto industry with the new exhaust test, the WLTP, as well as uncertainties such as the Brexit and the US trade policy press currently, the mood. Analysts see especially the sluggish demand from abroad as a growth inhibitor. “In China, it is not about what you get to feel the export strength of the German economy is particularly pronounced. The year long focus of German industry on China’s revenge at the Moment,” said Thomas Gitzel by VP Bank. “Private consumption and investment to sustain the growth rates on water.”

mmq/Reuters/dpa