United Kingdom

Gloom settles in over Germany’s economy as businesses remain downbeat about coming months

FRANKFURT, Germany (AP) — Germany’s businesses remain mired in pessimism, a key survey showed Friday, as Europe’s largest economy struggles with shortages of skilled labor, slower global trade, high interest rates and political squabbling.

The closely watched Ifo institute survey of business sentiment rose only slightly to 85.5 points in February from 85.2 points in January due to “slightly less pessimistic expectations,” the institute said in an accompanying statement.

“The German economy is stabilizing at a low level,” the institute said.