BREAKING NEWS

BREAKING NEWS

German business morale falls sixth time in a row in February

German business morale falls sixth time in a row in February
FILE PHOTO: The financial district is photographed on early evening in Frankfurt, Germany, January 29, 2019. REUTERS/Kai Pfaffenbach/File Photo -
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Kai Pfaffenbach(Reuters)
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BERLIN (Reuters) - German business morale fell for the sixth time in succession in February, a survey showed on Friday, suggesting that company executives expect growth in Europe's biggest economy will continue to lose momentum.

The Munich-based Ifo economic institute said its business climate index fell to 98.5, the lowest level since Dec. 2014. This was also lower than a consensus forecast of 99.0.

"The German economy is experiencing a downturn," Ifo President Clemens Fuest said in a statement. The institute said the index as well as other indicators point to a growth rate of 0.2 percent in the second quarter.

(Reporting by Joseph Nasr and Rene Wagner; Editing by Michelle Martin)

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