German Economy Shrinks Faster Than Expected

It’s a rare thing to happen, but Germany now looks like the sick man of Europe, a phrase previously often used to describe Britain.

The health of the business sector dropped significantly in June, according to recent data. The Ifo Business Climate index for Germany, which measures the health of the commercial sector, registered 88.5 in June, down from 91.5 in May. Higher numbers show economic strength, whereas lower ones show a weakening of the economy.