German business confidence weakened unexpectedly in April

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

25th April, 2016
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.

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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