German Business Confidence Unexpectedly Falls in October

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By Trey Thoelcke Published
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The Ifo institute in Munich said its business climate index has fallen to 100.0 from 101.4 in September. That is the sixth consecutive decline, as well as the lowest reading since February of 2010. Economists has predicted that the index, which is based on a survey of 7,000 German executives, would rise to 101.6 in October.

Ifo’s measure of executives’ expectations remained unchanged in October at 93.2, but the gauge of the current economic situation sank to 107.3 from last month’s reading of 110.3.

Strong exports have helped insulate Germany from economic turmoil in the region, but the sovereign debt crisis continues to be a drag on Europe’s largest economy. At least five of the 17 euro-area nations are in recession. Germany manufacturing and service industries shrank this month more than economists has forecast, another report showed today. Some experts believe the German economy will contract in the fourth quarter as eurozone and global demand for its exports continues to wane.

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About the Author Trey Thoelcke →

Trey has been an editor and author at 24/7 Wall St. for more than a decade, where he has published thousands of articles analyzing corporate earnings, dividend stocks, short interest, insider buying, private equity, and market trends. His comprehensive coverage spans the full spectrum of financial markets, from blue-chip stalwarts to emerging growth companies.

Beyond 24/7 Wall St., Trey has created and edited financial content for Benzinga and AOL's BloggingStocks, contributing additional hundreds of articles to the investment community. He previously oversaw the 24/7 Climate Insights site, managing editorial operations and content strategy, and currently oversees and creates content for My Investing News.

Trey's editorial expertise extends across multiple publishing environments. He served as production editor at Dearborn Financial Publishing and development editor at Kaplan, where he helped shape financial education materials. Earlier in his career, he worked as a writer-producer at SVE. His freelance editing portfolio includes work for prestigious clients such as Sage Publications, Rand McNally, the Institute for Supply Management, the American Library Association, Eggplant Literary Productions, and Spiegel.

Outside of financial journalism, Trey writes fiction and has been an active member of the writing community for years, overseeing a long-running critique group and moderating workshop sessions at regional conventions. He lives with his family in an old house in the Midwest.

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