German business sentiment falls again delaying recovery hopes

In a survey of 9,000 company managers, most said they were more pessimistic and assessed their current situation as worse 

Companies were both more pessimistic and assessed their current situation as worse compared to July. 

German business morale fell for a third consecutive month in August, a new survey has shown, pushing back recovery hopes for Europe's largest economy.

The Ifo Institute, an economic research institution based in Munich, said its business climate index fell to 86.6 in August from 87.0 in July, though it came in above a forecast by analysts polled by Reuters for a reading of 86.0.