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German Business Confidence Falls to 29-Month Low
The optimism of Germany companies waned from July to August, marking the fourth consecutive month of decline, says the Munich-based Ifo Institute for Economic Research.
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The optimism of Germany companies waned from July to August, marking the fourth consecutive month of decline, says the Munich-based Ifo Institute for Economic Research.
The group's business climate index fell from a downwardly revised 103.2 last month to 102.3, the lowest reading since March 2010. A gauge of business expectations also dropped.
Businesses are worried that demand in emerging markets may not be enough offset the plunge in exports to other European countries, according to Ifo. The institute says its survey signals that Germany's economic output will be weak in the current quarter but adds that the country isn't close to a recession.
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