Lisbon, Portugal, 17 Aug – A survey by the German economic climate institute, Ifo has concluded that the business climate has worsened in the Euro Zone in the third quarter of the year, with the exception of Portugal and Italy where business people are more optimistic.
The Ifo business confidence index for the Euro Zone fell to 101.7 points against the 103.4 point registered in the previous quarter, when it reached the highest level of the last 5 years, Spanish news agency Efe reported.
The reduced level of confidence is due to a less optimistic outlook for the next few months by business owners, which was only contradicted by those in Italy and Portugal.
The Ifo survey is carried out four times per year and covers around 300 business owners and economists in the Euro Zone. (macauhub)