German business confidence declined for a fourth month, reflecting a faltering euro-area economy that European Central Bank President Mario Draghi says might need more stimulus. The Ifo institute’s business climate index, based on a survey of 7,000 executives, fell to 106.3 in August from 108 in July. Economists predicted a drop to 107, according to the median of 39 estimates in a Bloomberg News survey. Germany has been the engine of the euro area’s revival since last year and its resilience could be critical now as growth stalls and political tension with Russia threatens trade flows. Draghi signaled last week that ... (full story)