BERLIN (Reuters) – German business morale deteriorated slightly more than expected in October as trade tensions, the possibility of Britain leaving the European Union without a deal, and concerns about Italy’s finances dampened confidence.
The Munich-based Ifo economic institute said on Thursday its business climate index fell for the second month in a row to 102.8. That was lower than a Reuters consensus forecast of 103.0.
“Firms were less satisfied with their current business situation and less optimistic about the months ahead,” said Ifo chief Clemens Fuest. “Growing global uncertainty is increasingly taking its toll on the German economy.”
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