Germany business confidence falls again - Ifo

(Sharecast News) - German business morale declined for the tenth consecutive month in September, adding to the list of data showing Europe's biggest economy was struggling to shake off high inflation, according to data from the Ifo institute's monthly survey. Its business climate index fell to 85.7 from 85.8 in August, but above forecasts of 85.2.

While companies were less satisfied with their current situation, their pessimism about the coming months dissipated slightly, ifo Institute President Clemens Fuest said. "The German economy is treading water," he added.

At 88.7, the Ifo business situation indicator decreased from 89.0 but remained above the expected level of 88.0. By contrast, the business expectations index rose to 82.9 in September, in line with expectations, from 82.7 a month ago.

Reporting by Frank Prenesti for Sharecast.com