German business confidence weakened unexpectedly in April
The latest data suggest Europe's largest economy is losing some of its pace
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.
A measure of the current situation in Germany deteriorated to 113.2 from 113.8, the Ifo report showed. A gauge of expectations rose to 100.4 from 100.
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