Germany: Business confidence falls for 3rd consecutive month on geopolitical tensions
July 25, 2014
The business confidence index elaborated by the Ifo Institute fell for third consecutive month in July. The indicator came in at 108.0 points from the 109.7 points observed in June and marked the lowest level in nine months. In addition, the index undershot the 109.4 the markets had expected. The Ifo Institute added that geopolitical tensions, “are taking their toll on the German economy.”
According to the Institute, July’s result stemmed from businesses being less optimistic regarding their current situations. Firms were also less upbeat than a month ago regarding future business developments.
Author: Ricardo Aceves, Senior Economist