German business confidence hits 10-year low, survey shows

GERMAN business confidence fell to the lowest since the 1993 recession as the ascent of the euro crushed exporters’ expectations, a survey of more than 21,000 companies by the DIHK industry and trade association showed.

The share of managers who expect business to get worse increased to 42% in June from 40% in the last DIHK survey in February.

The business group represents three million, mostly small and medium-sized companies.