Summary: ifo business climate index falls 1.3 points to 99.4 in August, below expected figure; expectations index down, current conditions index up; “significantly less optimism in companies’ expectations”, especially hospitality, tourism sectors; supply bottlenecks, infection rates placing strain on economy; expectations index implies euro-zone growth of 0.8% in year-to-November. Following a recession in 2009/2010, the ifo Institute’s business climate index largely ignored the European debt-crisis of 2010-2012, remaining at average-to-elevated...