German Ifo Business Climate Index falls to lowest level since September 2005; Results suggest economic upswing coming to an end
Jul 24th, 2008 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
The German Ifo Business Climate Index for industry and trade in Germany has fallen again significantly in July - the lowest in almost three years - following a clear worsening in the previous month. The Index declined to 97.5 from 101.2 in June. That's the weakest reading since September 2005. Professor Hans-Werner Sinn, President of the Ifo Institute, said that the results suggest that the economic upswing is coming to an end.