German business optimism slips amid Ukraine, Iraq

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BERLIN (AP) — A closely-watched survey shows German business confidence slipped for the second month in a row amid growing concerns about the economic impact of the crises in Ukraine and Iraq.

The Ifo index released Tuesday slipped to 109.7 points in June from 110.4 in May and 111.2 in April.

Businesses' assessment of their current situation remained unchanged at 114.8 points. But companies seemed less optimistic about the future, with the measure of their expectations dropping to 104.8 from 106.2 in May.

The Ifo's survey is based on monthly responses from about 7,000 companies.

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