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
Hussein Daitzik, 17, one of the nine victims of a July 22 shooting in Munich, has been buried in his family's native village near the Greek city of Komotini

German authorities say they've arrested a 15-year-old boy who they suspect of having planned a rampage and also believe was in contact with a teenager who killed nine people in Munich last week

Bavaria's interior minister says a 27-year-old Syrian asylum-seeker who blew himself up in the southern German town of Ansbach was in an online chat with a still-unidentified person immediately before the explosion

Authorities say that a suitcase containing a spray can has exploded near a refugee center and a police station in the German state of Bavaria, but no one was hurt

Volkswagen says its global sales rose 5.1 percent in June compared with a year earlier, fueled by gains in China and Europe and bolstering its performance over the year's first half

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
Official figures show Britain's economy grew faster than expected in the second quarter _ which mostly pre-dates the vote to leave the European Union _ with expansion across services, particularly in retailing and auto manufacturing

Britain's vote to leave the European Union appears to not have derailed economic activity across the continent yet _ some reassurance for the region as it faces a host of other problems, many of which relate to Italy and its troubled banks

Japan's government and central bank appear to be readying a fresh dose of economic stimulus to help revive stalling growth

The U.N.'s Economic Commission for Latin America and the Caribbean is projecting a 0.8 percent slide in the region's economy this year

Nigeria's central bank hikes interest rate to 14 percent as recession looms for oil-rich state

A trade group is raising its forecast for retail sales growth this year to 3.4 percent, with more help from online sales, as the economy improves

South Korea's economic growth improved in the second quarter of the year, helped by stronger private spending and housing construction

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

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.