Jul 25, 5:11 AM EDT

A closely watched index of German business optimism has declined in July following Britain's vote to leave the European Union

AP Photo
AP Photo/Ng Han Guan

Latest News
A spokesman for Germany's interior ministry says the man who detonated a bomb near a music festival, killing himself and wounding 12 others, had received two deportation notices

A failed asylum-seeker from Syria blew himself up and wounded 12 people after being turned away from an open-air music festival in southern Germany in what officials said Monday may have been a suicide bombing

A closely watched index of German business optimism has declined in July following Britain's vote to leave the European Union

Bavaria's top security official says he believes a failed asylum seeker who blew himself up and injured 12 people in the southern German town of Ansbach was driven by religious extremism

Investigators say the teenager behind the deadly shooting rampage in Munich was a withdrawn loner obsessed with playing "killer" video games, a victim of bullying who suffered from panic attacks set off by contacts with people

Multimedia
Exhibit Honors Soviet Photographer
Multimedia
A district summary of the Beige Book
Measuring economic stress by county nationwide
Mall malaise: shoppers browse, but don't buy
Unemployment by the numbers
Family struggles with father's unemployment
Saying an affordable goodbye
Hard times hit small car dealer
Latest Economic News
A closely watched index of German business optimism has declined in July following Britain's vote to leave the European Union

Global finance officials promised Sunday to protect the world economy from the shockwaves of Britain's European Union referendum and to boost sluggish growth

Britain's economy appears to be shrinking at its fastest pace since the global financial crisis as a result of the vote to leave the European Union, but the rest of the region is holding up well, surveys showed Friday

South Korea's central bank says North Korea's economy shrank 1.1 percent last year, in its first contraction in five years

Egypt's currency falls to new lows on the black market; media reports say it reached levels of 12 pounds to the dollar

The head of the European Central Bank says the eurozone economy could be given a further dose

Hedge funds representing a group of Puerto Rico bondholders sued the U.S. territory on Wednesday, saying it violated the terms of a rescue package recently approved by Congress to help pull the island out of a dire economic crisis

Libya's dinar is plunging to a new low on the black market amid continued political deadlock in this oil-rich country

The Polish government is backing a plan to lower the retirement age to 60 for women and 65 for men, from the current level of 67 for all

Turkey's central bank cut a key interest rate for the fifth time in a row Tuesday, days after an attempted coup against President Recep Tayyip Erdogan triggered concerns over the country's economic outlook

Interactives
Greece's Debt Threatens to Spread
State budget
gaps map
Auto industry problems trickle down, punish Tennessee county
Women give old Derby hats a makeover in tough economy
S.C. town deals with highest unemployment in South
How mortgages were bundled and sold as securities
Tracking the $700 billion financial bailout
Tracking the year's job losses
State-by-state foreclosures since 2007
Credit crisis explained
Presidents and their economic legacies
Lexicon of the financial crisis
Americans' addiction to debt
Interactive
Berlin Wall: 20 Years Later

BERLIN (AP) -- A closely watched index of German business optimism declined only slightly in July following Britain's vote to leave the European Union.

The Ifo institute's business climate index published Monday sunk to 108.3 points from 108.7 in June. The index combines the views of business executives on how things are now and on how they see the coming months.

Market analysts had expected a sharper decline in the mood in Europe's biggest economy.

Carsten Brzeski, chief economist at ING-DiBa in Frankfurt, said "German businesses do not seem to be extremely shocked by the British Brexit vote."

He noted that a sharper reaction might follow in the coming months, though, and "it is in our view too early to regard the Brexit-vote as a non-event for economic sentiment in Germany."

© 2016 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. Learn more about our Privacy Policy and Terms of Use.