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German business morale falls as war puts recovery on ice: survey

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Germany's energy-intensive manufacturers are more pessimistic due to the Mideast war, the Ifo institute says

Germany's energy-intensive manufacturers are more pessimistic due to the Mideast war, the Ifo institute says

German business morale fell in March as the war in the Middle East puts hopes of a recovery in Europe's struggling top economy "on ice", a key survey showed Wednesday.

The Ifo institute confidence barometer dropped from 88.4 in February to 86.4 in March as the energy price surge triggered by the conflict raises fears of higher inflation.

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