Ifo index Eurozone declines  

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The Germany-based Ifo index reports a decline from 123.0 to 118.9 points for Eurozone business expectations over the next  the six-months.

The index, which is based on a monthly survey conducted among 302 economic experts across the Eurozone, has marked the sharpest decline since the fourth quarter of 2012.

Respondents cited the political crisis in the Ukraine and subsequent growing energy prices and export declines as key factor of concern for the Eurozone.

Another factor of concern is the level of inflation, the anticipated inflation rate is currently at 1.1 % and therefore below ECB recommendations.

The majority of respondents expect both short- and long term interest rates in the Eurozone to remain at the current low levels.

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