German Business Sentiment Worsened for Fourth Consecutive Month in August

By Ed Frankl Business sentiment in Germany weakened in August for the fourth month in a row, and by more than expected, as the economic outlook turns gloomier in Europe's largest economy, according to a survey of companies.

"Companies are increasingly pessimistic about the months ahead," said Clemens Fuest, president of the Ifo Institute. Meanwhile, its index assessing expectations for the next six months also ticked down, to 82.6 in August from 83.6 in the prior month, the survey said. The business-climate index was also weaker on month in Ifo's other tracked sectors--services, trade and construction--with the outlook turning gloomier in all three.

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