Germany’s IFO index of economic optimism among business executives has fallen slightly in October for the first time in four months, AP reported. The index released Monday declined to 108.2 points from 108.5 the month before. The drop was less than the fall to 107.8 expected by financial-market analysts. Sentiment proved resilient despite the scandal at major automaker Volkswagen, which has admitted equipping cars with software that enabled them to evade US emissions tests. The company faces heavy fines and the possibility of lost sales. The survey by the Munich-based Ifo institute is based on surveys of 7,000 businesses about their view of current conditions and where the economy is going.
