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24 February 2004 17:17  Germany's Clement - ECB should take heed of Ifo drop


German Economy Minister Wolfgang Clement said on Tuesday the European Central Bank should take heed of a fall in Germany's Ifo business climate index when weighing up its monetary policy. "The drop in the Ifo index shows how vulnerable the shoots of recovery are to any kind of disturbance," Clement said in a statement, describing the move as "a clear warning shot". "The dampening in business expecations is a clear call on the European Central Bank to pay the highest attention to the consequences of its monetary policy," he added. Ifo reported earlier its pan-German business climate index dipped in February for the first time in 10 months, bucking analysts' expectations for a slight rise, as the strong euro dampened manufacturers' export expectations.///www.reutres.com
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