The Munich-based Ifo institute's business climate index, based on a survey of 7,000 executives, fell to 94.8 from 97.5 in July. Economists expected a drop to 97.2, the median of 35 forecasts in a Bloomberg News survey shows.
Germany's economy contracted in the second quarter and may not grow in the third. While oil prices have receded from a record $147.27 a barrel, they're still up 60 percent over the past year, crimping companies' spending power just as the euro's appreciation and the US housing slump weigh on export demand.
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Published by Mike Hitchen, Mike Hitchen Consulting
