Economics
German Business Confidence Deteriorates Amid Heightened Risks
- Ifo index slumps to 99.1 from 101.0; median estimate 100.7
- Gauges for current conditions, expectations both worsened
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German business sentiment fell to its weakest level in almost three years as trade uncertainties and waning growth in China amplified concerns over the economic outlook.
The Ifo Institute’s gauge of corporate confidence in Europe’s largest economy fell to 99.1 in January from 101.0 in December. The fifth straight decline will increase doubts over Germany’s ability to recover from a slump in the second half of last year, especially after a separate report this week showed manufacturing unexpectedly shrank in January.