Economics
European Business Mood Turns Sour as Economy Takes Another Hit
- German Ifo expectations index drops, French sentiment plunges
- Euro-area economy could shrink by close to 2% this quarter
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European executives are losing confidence in the outlook as new virus restrictions threaten to drag the economy into another slump.
Days after Danone and Thyssenkrupp AG announced thousands of job cuts, reports pointed to a souring mood across Europe’s corporate world. Germany’s Ifo Institute said a gauge of business expectations fell more than economists forecast in November, while a French sentiment measure also plunged.