The German business climate index fell to 87 in July from a seasonally adjusted 88.6 in the previous month, the third month-on-month decline, according to data from the Munich Institute of Economic Research Thursday.
The manufacturing, services, trade and construction sectors, which make up the business climate index, all declined month on month, the data showed. Manufacturing indicators fell sharply. Klemens Pfister, director of the munich-based Institute of Economic Research, said respondents were less satisfied with the status quo in the industry and clearly had doubts about the situation in the coming months.