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Uncertainties over Greece drives German business confidence down


economy

Uncertainties over Greece drives German business confidence down

Business confidence in Germany has fallen for a second straight month according to the Ifo index of 7000 companies.

The June figures are a full point down, beating forecasts, and the fall reflects worries about the knock-on effects of the Greek crisis.

Sentiment in the manufacturing, wholesaling and retailing sectors weakened but the mood among construction firms improved, and the current uncertainty has to be seen in the context of improving data on orders, output, exports and retail sales.

Germany is expected to post a strong second half of the year after a weak start.

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