Salem Radio Network News Tuesday, August 9, 2022

Business

German business sentiment falls more than expected in July

BERLIN (Reuters) – German business morale fell more than expected in July as high energy prices and the threat of gas shortages weigh on Europe’s largest economy, a survey showed on Monday.

The Ifo institute said its business climate index was 88.6 following a downwardly revised reading of 92.2 in June, when the closely watched indicator had fallen more than expected.

A Reuters poll of analysts had pointed to a July reading of 90.2.

(This story corrects to business climate, not climax, survey in graf 2)

(Reporting by Rachel More and Miranda Murray)

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