Economy

German business confidence slips in pre-election survey

German business confidence slips in pre-election survey”

German business confidence unexpectedly weakened for a second month in September, in a sign that Europe's largest economy may struggle to improve on its current brisk pace of expansion. The IFO business climate dropped to 115.2, below expectations.

Deutsche Lufthansa shares rallied almost 2 percent after reports that the airline group is offering to pay 200 million euros to buy its bankrupt smaller opponent Air Berlin.

The Ifo survey was conducted in the weeks before Sunday's federal election in which Chancellor Angela Merkel won a fourth term but looks set to change coalition partners, meaning its results do not take into account the election outcome.

Business sentiment from Germany is due on Monday, headlining a light day for the European economic news.

"At the moment people are still perplexed", Wohlrabe told Reuters, adding that a so-called "Jamaica" coalition between Merkel's conservatives with the pro-business Free Democrats (FDP) and the Greens would be hard to achieve. Prices had increased 0.2% on month in July. Investor confidence surged the most in 10 months, snapping three months of declines, and a purchasing managers index published last week showed private-sector activity at the strongest in more than six years.



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