Wed, 25 Jul 2012 14:52:36 GMT
German business confidence declines in July
German business confidence declined more than expected in July, falling to the lowest level since March 2010. The Ifo business climate index dropped from 105.2 in June to 103.3, representing a third consecutive decline, while economists expected a decline to 104.5. The main reason for such a sharp decline in confidence is deteriorating sovereign debt crisis, which damps economic growth