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German business confidence holds up amid trade worries

A car with a breakdown stands on the emergency lane on a highway in Frankfurt, Germany, as thousands of commuters pass by early Monday, Sept. 24, 2018. (AP Photo/Michael Probst)

FRANKFURT, Germany (AP) — Business confidence in Europe’s largest economy fell only slightly in September despite worries about trade disputes that could harm growth.

The Ifo institute survey of the outlook among business executives in Germany eased to 103.7 points from 103.9 in August.

Ifo institute head Clemens Fuest said Monday that the reading shows the German economy remained “stable, even if uncertainty is growing.”

Germany’s economy is heavily dependent on global trade, and businesses have been unsettled by new tariffs imposed by U.S. President Donald Trump and the retaliation by China and other trade partners. Europe’s economy has lost some steam recently amid worries about that and a potential collision between Italy’s populist government and the EU over rules limiting deficits and debt.

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