Iran War Threatens Europe's Economy as Confidence Falters
Ifo business climate index fell to 84.4 in April, lowest since May 2020 due to Iran war threats. Germany's private sector contracted for first time in nearly a year. Current situation index dropped to 85.4, expectations fell to 83.3. Ifo President Clemens Fuest called German economy 'hit hard' by Iran crisis. Klaus Wohlrabe noted economy 'losing confidence'. Joerg Kraemer warned oil shipments through Hormuz increase recession risks. Carsten Brzeski said infrastructure investments are on track but need time to impact economy