FRANKFURT, Germany (AP) — A widely watched indicator of German business confidence has risen for a fifth month in a row as Europe’s largest economy rebounds from the coronavirus shutdowns – but the index remains below its long term average and uncertainty is high with virus cases rising.
The Ifo institute’s index released Thursday rose to 93.4 points in September from 92.5 points in August. The index is based on a survey of thousands of businesses about their view of current conditions and expectations for the future.
In this case the current assessment rose while the expectations part levelled off.
After shrinking 9.7% in the second quarter, the worst quarterly figure on record, the economy is rebounding from the severe shutdowns and restrictions on activity and movement of March, April and May.
Carsten Brzeski, chief eurozone economist at ING bank, said growth could rebound sharply with growth between 5% and 10% in the third quarter. But the recovery still faces hurdles and has a long way to go to regain its pre-pandemic footing.
“Given the recent softening of leading indicators, however, there is a risk of a double-dip in the fourth quarter,” Brzeski wrote in a research note, “unless social distancing rules are eased further; a very unlikely scenario given the latest increase in new COVID-19 cases.”
Regulators authorized AstraZeneca’s coronavirus vaccine for use in adults throughout the European Union on Friday, amid criticism the bloc is not moving fast enough to vaccinate its population.
WASHINGTON (AP) — A former FBI lawyer was sentenced to probation for altering an email that the Justice Department relied on during its surveillance of an aide to President Donald Trump during the Russia investigation.
MADISON, Wis. (AP) — Democratic Gov. Tony Evers lashed out Friday at rival Republicans who tried to repeal his statewide mask mandate, saying killing the order would be a ridiculous move comparable to abolishing speed limits.
COLUMBIA, S.C. (AP) — As some conservatives in South Carolina celebrated getting a bill that would ban almost all abortions in the state past a legislative barrier and likely becoming law, they said they are not finished trying to end all abortions.
A Moscow court on Friday put the brother and several allies of Russian opposition leader Alexei Navalny under house arrest for two months as authorities sought to stymie more protests over the jailing of the top Kremlin foe.