Surprise slump in German business mood

Companies cautious post-Brexit despite strong recent earnings

25th August, 2016
German firms have beaten expectations recently despite Brexit. Pic: Getty

German business sentiment unexpectedly declined by the most in more than four years in August in a sign that companies took some time to weigh the consequences of Britain’s decision to quit the European Union.

The Munich-based Ifo institute’s business climate index fell to 106.2 in August from 108.3 in July. That was the biggest drop since May 2012 and the lowest reading since February. The median estimate in a Bloomberg survey of...

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