9/24, 10:01 AM (Source: TeleTrader)
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German business climate worsens in September - Ifo

Germany's business sentiment deteriorated in September compared to August, a report issued by the Munich-based Institute for Economic Research (Ifo) showed on Friday.

The Ifo Business Climate Index missed estimates and decreased from 99.4 to 98.8. The current assessment index went down by 1 point to 100.4, while expectations dipped from 97.5 to 97.3.

Ifo's analysts attributed the third monthly downtrend in a row to "problems with the procurement of raw materials and intermediate goods."

Breaking the News / BU