German business confidence slumps


German business sentiment deteriorated amid signs economic growth ground to a temporary halt and as risks surrounding a US-China trade spat and a disorderly Brexit increased.
The Ifo institute’s gauge of corporate confidence fell to 102.8 in October after a drop to 103.7 in Sep- tember. The median forecast in a Bloomberg survey was for a decline to 103.2. Measures for current conditions and expectations also slid.
Data from Europe’s largest economy have disappointed lately and waning optimism signals Germany may be more vulnerable to risks than commonly thought.
The Bundesbank has expressed confidence that growth will pick up again after stalling in the third quarter, yet private-sector activity slo-wed in October to the weakest since 2015 and companies from Daimler AG to HeidelbergCement AG cut their profit forecasts.

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