German business leaders this month took a gloomier turn as their confidence in the eurozone’s biggest economy weakened unexpectedly, a leading indicator revealed.
Current conditions and expectations missed expectations with readings of 103.3 and 95.2, down from March. Last month’s figures had shown a greater than expected improvement.
“The reading highlighted the worsening conditions and declining confidence in Europe’s largest economy,” said Stephen Hubble, chief analyst at Centtrip. “Having just avoided recession in the fourth quarter of 2018, Europe’s powerhouse may be unable to stop the rot, especially as the picture in the US and China is looking brighter.”
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Germany cuts GDP forecast, again