The German economy is slowing and the latest business confidence survey has slipped to a sixteen month low, the fifth month in a row the results have shown a decline. Mads Koefoed, Head of Macro strategy Mads Koefoed gives us his overview of the German decline and makes forward predictions: "We can use the current assessment index to gauge economic growth in Q3 (the GDP report is not released before November 14). Based on the three-month average of the IFO's current assessment index through September of 111.5 GDP is projected at around 2.4% year-on-year in Q3 compared with an actual change of 1.2% in Q2.".