German business confidence weakened in November as companies turned more pessimistic about outlook despite unprecedented fiscal policy U-turn, results of a closely watched survey by the ifo institute showed on Monday.
The business climate index fell to 88.1 in November from 88.4 in October. The reading was expected to rise to 88.6.
Companies assessed their current situation as somewhat more positive, while they were more skeptical about the months ahead.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.