(Bloomberg) — Germany’s business outlook unexpectedly fell, adding to concerns over the rebound of Europe’s biggest economy.
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The Ifo institute’s expectation barometer dropped to 86.9 in July from a revised 88.8 in the previous month, defying economists’ predictions of a slight improvement. The gauge of current conditions and the overall measure also declined.
“German business confidence is deteriorating and there is a lot of pessimism regarding the coming months,” Ifo President Clemens Fuest told Bloomberg Television’s Kriti Gupta on Thursday. “The overall outlook is rather bleak.”
The decreasing…