German Business Confidence Wanes in October
German Business Confidence Wanes in October (Bloomberg)
For the first time in the last six months, German business confidence decreased –mainly due to uncertainty over the strength of the country and region’s economy. This confidence rating comes from the Ifo Institute’s business climate index — a survey of more than 7,000 executives in the country. Germany’s 107.4 score came in below the 107.7 mark reached in September and well below the 108 mark estimated for October. The drop also was based on the country’s factory orders declining in August and a slower economic growth rate than anticipated. The question now is will investors share this lack of confidence in the German and European Union economies and slow down bankrolling the country?