The German business climate index has fallen to its lowest level since June 2020. The reason for this is the great uncertainty caused by the war in Ukraine and concerns that the economy will slump in Q3 2022.
The German economic research institute Ifo reported that the index of German business climate fell for the third month in a row, but at 88.5 in August, lower than expected from 88.7 in July.
Analysts predicted that the German business climate index was 86.8 in August.