MOSCOW, July 25 (RIA Novosti) - The business climate index in Germany for July dropped to 108 points from 109.7 points in June, the Ifo Institute for Economic Research reported.
According to analysts previously polled by Reuters, the expected index decline should have been to 109.4 points. The indicator is currently at its lowest level since October 2013 as the business climate deteriorated in all sectors without exception. The country’s export outlook leads the most affected sectors, falling to its lowest level in over a year.
The current economic situation index fell to 112.9 points, lower than the 114.5 points forecast. The economic expectations index fell in July to 103.4 points from 104.8 points a month earlier. Ifo Institute, which produced the data, pointed to geopolitical tensions taking their toll on the German economy.
