German business confidence weakened unexpectedly in April

The latest data suggest Europe's largest economy is losing some of its pace

German business confidence deteriorated in April Pic: Getty

German business confidence unexpectedly deteriorated in the latest sign that Europe’s largest economy is losing some of its pace.

The Munich-based Ifo institute’s business climate index fell to 106.6 in April from 106.7 the previous month. The median estimate in a Bloomberg survey of economists was for an increase to 107.1.

The Bundesbank said last week that it seesslowing momentum in the economy this quarter after a strong expansion in the first three ...