The auto parts industry in Germany is concerned about its competitiveness in global markets, as evidenced by the drop in the business climate index from minus 35 to minus 40.7 points, according to a report by the IFO Institute. The business situation indicator fell from minus 32.6 to minus 39.1 points, while business expectations dropped from minus 37.3 to minus 42.3 points. German companies are feeling a loss of position in foreign and domestic markets, facing competition from China and trade pressures.
German auto industry worried about competition; mood worsens.
