German business morale falls for third month in a row

BERLIN, July 24 Reuters - German business morale fell for the third month running in September hit by supply chain problems that are causing a bottleneck recession for manufacturers in Europe's largest economy, a survey showed on Friday.

The Ifo institute said its business climate index fell to 98.8 from an upwardly revised 99,6 in August. A Reuters poll of analysts had pointed to a September reading of 98.9.

Problems in the procurement of raw materials and intermediate products are putting the brakes on German economy, Ifo President Clemens Fuest said in a statement. Manufacturing is experiencing a bottleneck recession.