German business confidence slips

AP News
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Posted: Mar 25, 2011 5:47 AM
German business confidence slips

A closely watched survey shows that German business confidence has slipped from a two-decade high as managers' optimism for the coming six months has waned.

The Ifo institute said Friday that its confidence index was down slightly to 111.1 points for March from 111.3 in February. The slip followed nine consecutive months of increases.

Ifo says managers' assessment of the current situation improved and the overall decline was due entirely to a less optimistic six-month outlook. But it says firms remain very confident.

The institute says slightly less than half of this month's survey responses arrived after problems started at Japan's earthquake-damaged Fukushima Dai-ichi nuclear complex.

THIS IS A BREAKING NEWS UPDATE. Check back soon for further information. AP's earlier story is below.

BERLIN (AP) _ A closely watched survey shows that German business confidence has slipped from a two-decade high as managers' optimism for the coming six months have waned.

The Ifo institute said Friday that its confidence index was down slightly to 111.1 points for March from 111.3 in February. The slip followed nine consecutive months of increases.

Ifo says managers' assessment of the current situation improved and the overall decline was due entirely to a less optimistic six-month outlook. But it says firms remain very confident.

The institute says slightly less than half of this month's survey responses arrived after problems started at Japan's earthquake-damaged Fukushima Dai-ichi nuclear complex.