German Business Confidence Continues To Sink
According to the latest data, business confidence in Germany, the Eurozone’s strongest economy, declined for the 5th straight month. The German IFO index slipped from 102.3 in August to 101.4 in September. The erosion of German business confidence is occurring amidst the two-year old Eurozone debt crisis.
The wave of economic recessions that have afflicted the most debt prone economies in the Eurozone are the driver eroding business confidence in Germany. The Eurozone crisis threatens to retard Germany’s massive export trade to the Eurozone bloc, which ultimately will affect GDP growth prospects in Germany.
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