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German business morale sours

Monday, August 25 09:26:12

German business sentiment dropped for a fourth straight month in August, suggesting concerns about the Ukraine crisis and the impact of sanctions against Russia are sweeping through corporate boardrooms in Europe's largest economy.

The Munich-based Ifo think tank's business climate index, based on a monthly survey of some 7,000 firms, fell to 106.3 from 108.0. The Reuters consensus forecast had been for a decrease to 107.0.

It was the lengthiest period of decline since the height of the euro zone crisis in summer 2012 and sent the euro to a day's low against the dollar. (Reuters)

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