UPDATE 2-German business shrinks as economy buckles to crisis
| Reuters
Germany's Ifo business sentiment surprisingly dropped to
100.0 in October, its sixth consecutive fall and the lowest
reading since February 2010, undershooting the lowest forecasts
in a Reuters poll of 45 economists.
"The clouds over the German economy are darkening," said Ifo
President Hans-Werner Sinn. Ifo economist Klaus Wohlrabe added:
"The uncertainty in the real economy has not decreased."
Private sector activity also shrank for a sixth straight
month as factory order books thinned and demand for exports
weakened, with the manufacturing element of the Purchasing
Managers' Index (PMI) also below all forecasts.
WE NEED ANOTHER SUMMIT !!
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