German business confidence down again, at 13 month low

German Ifo business climate fells to 13-month low at 109.7 in August, the poll showed Monday.

The monthly index is based on a survey of around 7,000 German firms in the manufacturing, construction, wholesale and retail sectors. It measures the level of optimism regarding the German economy.
In its report, the German research institute, Ifo said its Business Climate Index fell to a seasonally adjusted 106.3 this month, below forecasts for 107.0 and down from a reading of 108.0 in July. The Current Assessment Index declined to 111.1 in August, below expectations for a reading of 112.0 and down from 112.9 in July.