Business confidence in Germany, Europe's largest economy, dropped to a new all-time low in June but expectations for the future continued to improve, a closely watched survey showed Monday.
The Munich-based Ifo institute's business climate index _ an average of its current situation and future expectations numbers _ improved overall to 85.9 points from 84.3 the month before, the third consecutive increase since March when the indicator hit a 26-year low of 82.2 points.
"The survey results confirm that the German economy is gradually stabilizing," Ifo president Hans-Werner Sinn said in a statement.
The survey, based on around 7,000 …
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