German business confidence probably declined to the lowest level in eight months in July as the European debt crisis and weakening global demand damped the economic outlook. The Ifo institute’s business climate index, based on a survey of 7,000 executives, will drop to 113.7 from 114.5 in June, according to the median forecast of 42 economists in a Bloomberg News survey. That’s the lowest since November. The institute releases the report at 10 a.m. in Munich today. European leaders met in Brussels yesterday in the latest attempt to stem a 21-month debt crisis that is threatening to engulf Spain and Italy. While ... (full story)