Euro-Area Economic Weakness Persists as German Confidence Drops
- Germany’s Ifo index fell most in almost a year in April
- Gauges for Italy, France decline; PMIs point to slower growth
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German business confidence plunged the most in almost a year and sentiment deteriorated in Italy and France, keeping the euro region on an uncertain footing after a weak first quarter.
The numbers follow multiple reports hinting that momentum in the euro area is taking a breather. It’s inopportune timing for the European Central Bank, which is preparing to trim back stimulus later this year.