‘The Situation Is Dire’: As Business Confidence Collapses, Germany’s ‘Black Zero’ Fiscal Stance Looks Untenable

Confidence among German businesses deteriorated further in August, Ifo’s business climate index shows. The closely-watched gauge fell to 94.3 this month, a near seven-year low. It was the fifth straight monthly decline. The expectations index fell too, hitting 91.3, which is remarkable considering July's 92.2 print was already the weakest since 2009. "Worries among German business leaders are getting deeper and deeper", the survey said. "The signs of a recession in Germany are thickening