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Germany: IFO, better scenario for automotive industry

But employment "strained", possible layoffs

01 September, 11:08
(ANSA) - BELGRADE, 01 SET - The business sentiment among German automotive manufacturers and suppliers slightly improved in August, according to the latest IFO Business Survey, the German IFO Institute said today. The industry's assessment sentiment rose from -68.3 points in July to -34.8 points in August, while business expectations fell slightly, down to 37.4 points from 40.9 points in July. Also, the production plans index went down to 48.4 points after 49.4 points registered in July.

"A light has gone on in the dark cellar," said Klaus Wohlrabe, Head of Surveys at IFO, noting however that "the employment situation remains strained, and companies are still planning to move forward with layoffs." (ANSA).

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