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Home / Metal News / German business confidence fell for the fourth month in a row to hit a six-year low

German business confidence fell for the fourth month in a row to hit a six-year low

iconJul 26, 2019 08:24
Source:SMM
Business confidence in Germany, Europe's largest economy, fell more than expected, according to the survey. German business confidence fell to a six-year low as managers' views on the current situation and future prospects worsened.

Business confidence in Germany, Europe's largest economy, fell more than expected, according to the survey. German business confidence fell to a six-year low as managers' views on the current situation and future prospects worsened.

The IFO Institute said on Thursday that its monthly confidence index fell to 95.7 in July from 97. 5 the previous month. Economists had expected a smaller decline of 97.2.

It was the fourth month in a row that the index had fallen and was at its lowest level since April 2013.

The survey is based on feedback from about 9000 companies. In recent months, Germany has repeatedly lowered its economic growth forecast. IFO said business confidence in the manufacturing sector "plummeted" in July.

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