German business confidence fell sharply in July, declining for the third consecutive month amid growing concerns about the impact on Europe's biggest economy of the deepening crises in Ukraine and the Middle East, a survey released Friday showed, according to dpa. The Munich-based Ifo economic institute said its closely watched indicator dropped more than forecast to 108 points this month from 109.7 points in June. Analysts had expected a decline to 109.4. The survey's components measuring the business leaders' assessment of the current economic conditions in Germany and their expectations for six months down the track also came in lower than forecast.
