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A closely-watched business survey shows that business optimism in Germany fell for the fifth month in a row, in another sign that Europe's debt crisis is weighing on the continent’s largest economy.
The Ifo index dipped to 101.4 in September from 102.3 in August. The report disappointed many because economists had expected the index to remain at least flat. The Ifo survey is a leading economic indicator, providing clues about where the economy is going in the months ahead.
Concerns over Europe’s debt crisis eased after president of the European Central Bank, Mario Draghi, announced a plan to buy government bonds of indebted countries, such as Spain and Italy, if they agree to take steps to reduce their deficit.
But there are fears that Germany’s economy will be weighed down by the rest of the European Union, half of whose members have already entered into recession.
Dr Gernot Nerb, Chief Economist, Ifo Research Institute, said, "Well, the hopes of the economists were that the decision delivered by the Federal Constitutional Court - which announced that the ECB will act stronger would inspire the markets. Not only the financial markets but also the real economy, but unfortunately that impulse has not yet arrived in the real economy."
中国公众网摘编：GAN JADE |
