Car makers in Germany were in a slightly better situation in November compared to the previous month, according to a leading economic institute. The ifo research institute said its index for the car industry rose to minus 2.2 points in November following a figure of minus 4.3 the previous month.
Expectations for the coming months rose to minus 13.3 points after minus 35.3 in October, the institute said, citing its industry survey. "The risk of a gas shortage this winter has decreased, and with it, the risk of a deep recession," ifo expert Oliver Falck said.
Car manufacturers were planning on increasing production, he said.
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