BERLIN, Nov 26 (Reuters) - German business morale fell in November, a survey showed on Monday, suggesting that company executives have become less optimistic about the growth outlook for Europe’s biggest economy.
The Munich-based Ifo economic institute said its business climate index fell for the third month in a row to 102.0. This was lower than a Reuters consensus forecast of 102.3.
“Sentiment among German businesses weakened further this month,” said Ifo chief Clemens Fuest. “Companies scaled back their assessments of the current business situation albeit from a high level. Their business expectations also clouded over.”
He added that the economy would grow by 0.3 percent in the fourth quarter at most.
Reporting by Joseph Nasr Editing by Paul Carrel