Istanbul, Dec. 18 (DHA) - The German economy is cooling but there is no recession in sight, an economist at Ifo said on Tuesday after the institute\'s monthly survey showed the business climate in Europe\'s largest economy deteriorating.
Klaus Wohlrabe said uncertainty had increased again and Britain\'s upcoming departure from the European Union was at the top of the agenda.
\"German economy cooling down but no recession. Uncertainty has increased further, Brexit is at the top of the agenda. Export expectations have reached the lowest level since November 2016. Private consumption could be better-given increases in income, employment\" he said.
The headline German Ifo business climate index came in at 101.0 for December, weaker than last month\'s 102.0 and missing consensus estimates pointing to a reading of 101.8. The current economic assessment also missed estimates and came in at 104.7 points in the reported month as compared to last month\'s 105.4 and 104.9 anticipated.