BERLIN, July 25 (Reuters) - The scale of decline in the German business mood in July came as a surprise, Ifo economist Klaus Wohlrabe said on Friday, as tensions in Ukraine and the Middle East coincided with easing economic momentum after a strong first quarter.
“Tensions are weighing on the mood in general,” he said, adding that the influence of the conflicts in the Middle East and Ukraine could not be measured in concrete terms.
The Munich-based Ifo think tank’s business climate index, based on its survey conducted July 4 to 24, fell to a nine-month low of 108.0 from 109.7, data showed on Friday.
Conditions within Germany remained very good and July’s index did not indicate a change of trend however, Wohlrabe said. (Reporting by Alexandra Hudson and Stephen Brown; Editing by Hugh Lawson)