Germany, Europe’s largest economy, is facing recession economists warned yesterday, after figures from the Ifo business climate index showed business confidence had fallen to a two-year low.
Economists, who had expected the index to stabilise, said the outlook was gloomy and would increase pressure on the ECB to cut rates.
Financial Times 23/06/01 page 1, The Guardian 23/06/01 page 24, The Independent Business 23/06/01 page 21, The Daily Telegraph 23/06/01 page 2
