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German business sentiment unexpectedly falls in September, Ifo survey finds
German business morale unexpectedly declined in September, a survey showed on Wednesday, as the economic outlook remained weak. The Ifo institute said its business climate index decreased to 87.7 in September from a revised 88.9 in August. Analysts polled by Reuters had forecast a reading of 89.3. Companies were less satisfied with their current business and expectations also darkened noticeably, as hopes for an economic recovery suffered a setback. Germany has struggled to regain momentum this year, with the economy contracting by 0.3% in the second quarter compared with the first three months of the year, as U.S. ... (full story)
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