Economic Buzz: German Self-Employed Remain Pessimistic In November

9 Dec 2022 , 02:27 PM

Despite a moderate recovery in business confidence among the self-employed in Germany, they remained pessimistic in November as they have major concerns about their survival amid the risk of a recession in the biggest euro area economy, results of a survey suggested. The Jimdo-ifo Business Climate Index for the Self-Employed rose to minus 21.6 points, from minus 25.0 points in October. Positive and negative balances regarding current business situation was somewhat balanced in November, reflecting an improvement, the ifo survey showed. The solo self-employed were very pessimistic about the coming months. This was in contrast to the much more strong advancement in the expectations index in the general economy. In retail and wholesale, about 50 percent of self-employed was pessimistic about the coming six months. Among the self-employed, 19.4 percent considered their economic survival threatened. Although this was slightly below the 19.7 percent seen in October, it was significantly higher figure than the average for the economy as a whole.Powered by Commodity Insights