News Summary: German business confidence down

AP News
Posted: Aug 27, 2012 12:30 PM
News Summary: German business confidence down

BERLIN'S BUSINESS BUMMER: German business optimism fell more than expected in August, according to a survey published Monday, another sign that Europe's largest economy faces trouble from the eurozone debt crisis.

CREEPING CRUNCH: Economists have warned that the debt crisis in the 17-country eurozone could eventually catch up with Germany. The country's economy did better than the currency union overall over the past few years.

PULLED DOWN: Exports of cars and machinery to Asia and the U.S. have helped Germany, while low unemployment has buoyed consumer spending. But those advantages may not be enough against the undertow from the eurozone.