Business confidence in western Germany soured in March, data published by the influential Ifo economics research institute showed today.
Ifo's business climate index for western Germany fell to 88.1 points in March from 88.9 points in February, and was down from 91.4 in March last year.
Economists had forecast the index to remain unchanged at 88.9 in March. The March business assessment index was at 79.2, down from 79.6 in February, and up from 77.4 in March last year.
The March business expectations index was at 97.2, down from 98.4 in February, and down from 106.1 in March last year.
The Ifo index is the nearest thing Germany has to an industrial confidence barometer. The institute polls around 7,000 companies about their assessment of current business and their expectations for the next six months.
AFP