German business confidence fell to its lowest point in nearly three years last month, dragged down by concerns over weakening business in the next six months, a closely watched survey showed Thursday.
The Munich-based Ifo institute's business climate index fell to 97.5 points in July from 101.2 points in June, a steeper decline than analysts had expected.
"In manufacturing the business climate index has fallen noticeably," Ifo president Hans-Werner Sinn said in a statement.
"Satisfaction with the current business situation has declined among the survey participants. They also anticipate weaker business in the coming six …
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