In August, the Ifo index recorded a worse decline than expected by analysts, falling to its lowest level since 2012
More bad news from Germany's economy. In August the Ifo index, which measures the climate of confidence among German businesses, fell to 94,3 points, from 95,7 in July.
This is the lowest level recorded by the Ifo index since November 2012 and risks being further confirmation of the fears of a recession in the German economy.
The drop was expected, but analysts had expected a more contained decline on average, to 95 points. Both expectations and the current situation are pushing the index down.
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