By Maria Martinez
BERLIN- German business morale fell more than expected in November, in further bad news for a country set to be the worst performer among the Group of Seven (G7) rich democracies this year.
The Ifo institute said its business climate index decreased to 85.7 in November, a survey showed on Monday.
Analysts polled by Reuters had forecast a reading of 86.0.
“The German economy is lacking strength,” Ifo president Clemens Fuest said.
The decline in business morale was mainly due to the poorer assessment of the current situation, although expectations also fell slightly, Ifo said.
Germany’s economy grew less than previously estimated in the third quarter, the statistics office reported on Friday, in further bad news for a country set to be the worst performer among the Group of Seven rich democracies this year. – Reuters
