News Summary: Key German optimism indicator falls
CONFIDENCE GAME: Business confidence in Germany dropped for the sixth month in a row, a closely watched survey showed Wednesday. Munich's Ifo institute said its key business climate figure dropped to 100 in October from 101.4 in September. Economists had been predicting a slight increase.
BETTER THAN MOST: Germany has been doing better than debt-burdened countries like Spain and Italy, but has lost momentum as the debt troubles on its doorstep weigh on economic confidence.
FEEBLE FORECAST: the Economy Ministry last week cut its growth forecast for 2013 to 1 percent from 1.6 percent, BUT increased this year's outlook slightly.