German business sentiment dipped for the fourth month in a row in October, falling to its lowest level since mid-2010 and compounding fears the euro zone debt crisis could push Europe back into recession if a solution is not found soon.
The Munich-based Ifo economic think tank said that its closely watched business climate index, based on a monthly survey of some 7,000 companies, fell to 106.4 in October from a revised 107.4 in September.
This was the lowest level since June 2010, albeit slightly better than the 106.3 forecast in a Reuters poll of 52 economists. – (Reuters)
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