Economy

German business confidence edges down

German business confidence edges down

German business confidence deteriorated unexpectedly in the weeks before Sunday's federal election, a survey showed yesterday, suggesting that a consumption-led upswing in Europe's largest economy could lose momentum in coming months.

The German think tank said Monday that its business climate index fell to 115.2 points from 115.9 points in August.

The Business Expectations Index, which measures attitudes toward business prospects over the next six months, inched down to 107.4 this month from 107.8, falling short of forecasts for a reading of 107.9.

Crude oil rallies amid talk of OPEC production cut deal extension
China is on pace to overtake the USA as the world's biggest oil importer this year, taking in more than 8 million barrels a day . There were no caps imposed on Libya or Nigeria but they pledged to contribute to supply cuts when their production stabilises.

The Ifo survey of about 7,000 companies shows that German companies were less upbeat about their current situation and also scaled back their short-term outlook.

Stephen Brown, an economist at Capital Economics, said that a more likely cause of the decline is the recent strength of the euro, rather than political uncertainty.

Looking to different sectors surveyed by Ifo, both the manufacturing and wholesale industries reported a dampening of sentiment in September compared with a month earlier.

Anthony Weiner sentenced to 21 months in prison in sexting case
Attorney Amanda Kramer on Monday urged Cote to give Weiner a significant prison sentence to end his "tragic cycle" of sexting. Over the next few hours Weiner exchanged messages with her that ranged "from the mundane to the provocative".

A growing population, increased job security and record-lowinterest rates are fuelling a property boom in Germany.

Business sentiment in Germany's service sector has risen to a new high in spite of Sunday's national election outcome, a study published on Tuesday by the Ifo Institute for Economic Research has found.

China asks US, North Korea to avoid provoking each other
Besides UN sanctions, the United States wants more punitive embargoes on the North for conducting nuclear tests. He then tweeted on Friday that Kim was "obviously a madman" who would be "tested like never before".


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