Economics
German Business Confidence Falls to Lowest Since June 2010
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German business confidence fell to the lowest in more than a year as a global slowdown and Europe’s debt crisis damped the outlook for economic growth.
The Ifo institute in Munich said its business climate index, based on a survey of 7,000 executives, dropped to 108.7 in August from 112.9 in July. That’s the lowest since June 2010. Economists forecast a decline to 111, according to the median prediction of 37 economists in a Bloomberg News survey. The index reached a record high of 115.4 in February.