Financial experts are concerned that German business morale has fallen again this month, according to the IFO thinktank.

IFO president Clemens Fuest says Germany’s economy appears to be cooling, with most industries sending “bad signals” about their prospects (sending its business expectations measure to a 25-month low).

Fuest told Bloomberg TV that:

We think it’s a permanent slowdown. Not a downturn, we still expect growth next year.

Teis Knuthsen, CFI at Kirk Kapital (managing the wealth of descendants of the creator of Lego), fears that Germany’s economy won’t rebound from its summer contraction.

German investors grow gloomier

German business morale has fallen, in another sign that Europe’s largest economy is struggling.

IFO, the Munich-based thinktank, says its business climate index has dropped to just 101.0 this month, down from 102 in November.

That’s weaker than expected, and the fourth decline in a row.

IFO’s business expectations measure slumped to just 97.3, from 98.7. That may indicate that growth will be subdued in 2019.