German business sentiment declines for the fourth month

In August, German business sentiment declines for the fourth month. The business confidence index of the Munich-based Ifo Economic Research Institute declined to 102.3 points, mainly due to the uncertainty in the euro area. This is the lowest level since March 2010. The index in July was 103.2 points.

Analysts expected an average of 102.7 points in August. The assessment of the current situation index declined to 111.2 points from the 111.6 points of July.

The survey was carried out with the participation of seven thousand German manufacturing, construction, wholesale and retail companies. (MTI)