Germany’s IFO Business Climate Index edged lower in August, marking the fourth consecutive month of decline, as sentiment in the manufacturing and services sectors worsened, Oxford Economics reported on August 26. The index fell by 0.4 points to 86.6, its lowest level since February, with the current assessment of business conditions dropping, while expectations remained largely unchanged. The “engine of Europe’s economy” is spluttering as Europe’s biggest economy has been hit with multiple problems thanks to the on going polycrisis. The decline in the IFO index aligns with recent economic ind…