The economic slowdown in China and Russia reduced the business sentiment index in Germany - Media

Almaty. January 25. KazTAG - The economic slowdown in China and Russia reduced the index of business sentiment in Germany, writes Deutsche Welle.
“The mood in the higher echelons of the German economy unexpectedly sharply deteriorated. The barometer of business sentiment fell from 108.6 to 107.3 points from December to January,” the publication said with reference to the Munich Institute for the Ifo Economic Research.
Economists responded to a poll by Reuters expected a barometer decline to 108.4 points only.
“The German economy enters a new year with the fear,” - stated the head of the Ifo Hans-Werner Sinn.
German business sentiment is overshadowed by severe turbulence on stock exchanges, as well as fears of further weakening of the situation in China and destabilization of the situation in Russia and other oil-producing countries. Experts, however, still believe this year the economy in Germany to grow by 1.7%, as in 2014. These projections are based on good consumer sentiment in Germany, a record of employment, wage growth and lower energy prices.