Euro tumbles as German gloom grows

Euro tumbles on growing German gloom

By William L. Watts, MarketWatch

Last Update: 8/26/2008 6:48:00 AM

LONDON (MarketWatch) — Further signs of trouble for the once-resilient German
economy Tuesday sent the euro down to again test levels not seen since February.

The Munich-based Ifo Institute’s closely-followed business sentiment index
tumbled much more sharply than expected in August, falling to a three-year low of
94.8 from 97.5 in July. Consensus expectations were for a more modest decline to
97.1.

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Technorati Tags: Business Sentiment, Consensus Expectations, Decline, Euro, German Economy, Gloom, Munich, Sentiment Index, Signs Of Trouble, Watts