Ifo economist Klaus Wohlrabe said on Monday he expected zero growth in the fourth quarter in Germany and that there were almost no bright spots for German industry at present.
Business sentiment darkened in October for a sixth month running, according to the Munich-based Ifo think-tank's business climate index, which fell to 103.2 from 104.7 the previous month. That was its weakest reading since December 2012.
Wohlrabe said recent upward momentum in the Purchasing Managers' Index (PMI) for Germany was not yet visible. Only firms' export expectations had risen slightly, he said, although it remained to be seen if this was sustainable.
"Things have not gone well for German industry and there are no bright spots for industry," he said.
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