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German business confidence declines to lowest level since February of 2010

FRANKFURT -- The eurozone crisis is increasingly hitting Germany, the top European economy, data suggested on Wednesday with business confidence falling for the sixth month in a row to the lowest level since February 2010.

The Ifo economic institute's closely watched business climate index dropped to 100.0 points in October from 101.4 points in September, disappointing analysts surveyed by Dow Jones Newswires who had expected a slight rise.

The index “fell in October for the sixth time in succession. Companies again expressed growing dissatisfaction with their current business situation,” said Ifo president Hans-Werner Sinn.

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