22 June 2012 15:09 [Source: ICIS news]
LONDON (ICIS)--German business confidence fell to its lowest level in more than two years in June amid fears of growing impacts from the eurozone sovereign debt crisis, a research group said on Friday.
Munich-based Ifo institute said its business climate index for ?xml:namespace>
Ifo said that manufactures are increasingly worried about their near-term business outlook, in particular about export markets.
In wholesale, fewer firms described their current business situation as good, compared with May’s survey. Moreover, wholesalers are now slightly more skeptical about their outlook than last month, Ifo said.
However, the business climate brightened slightly in construction, Ifo said.
In related industry news, research firm Markit reported that its purchasing managers index for Germany fell to its lowest level in three years in June.
Paul Hodges studies key influences shaping the chemical industry in his Chemicals and the Economy Blog
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