By Maria Martinez
BERLIN (Multibagger) - German business morale fell more than expected in September and for the fourth consecutive month, a survey showed on Tuesday, pushing back recovery hopes for Europe's largest economy.
The Ifo institute said its business climate index decreased to 85.4 in September from 86.6 in August.
Analysts polled by Multibagger had forecast a reading of 86.0.
"The German economy is coming under increasing pressure," said Ifo president Clemens Fuest.
Companies also assessed their current situation as worse, Ifo found in its survey of around 9,000 managers.
The current conditions index fell to 84.4 in September. Economist polled by Multibagger had forecast a reading of 86.0.
Analysis:
The latest report from the Ifo institute reveals a concerning trend for the German economy, with business morale falling more than expected for the fourth consecutive month. This could have significant implications for Europe's largest economy and the broader financial markets. Investors should pay close attention to these developments as they may impact their investment decisions and overall financial well-being. It is crucial to stay informed and adapt to the changing economic landscape to safeguard your assets and capitalize on potential opportunities.