The German economy is cooling down. That is the standout assessment from a key business climate survey, published by the Munich-based Ifo Institute on Monday.
The Ifo Business Climate Index fell to 102.0 points in November from 102.9 points in October, marking its third consecutive decrease.
Speaking to CNBC's "Street Signs" shortly after the release, the institute's president, Clemens Fuest, said sentiment among German businesses had obviously weakened as activity had slowed.
"There are clear signs that the long upturn is ending, the Germany economy is cooling down," he said by phone.