Europe Economy

German Business Sentiment Falls in April

Reuters

German corporate sentiment fell more than expected in April as firms' assessment of both current economic conditions and the business outlook deteriorated, a closely watched survey showed on Thursday.

The Munich-based Ifo economic research institute said its business climate index, based on a monthly poll of around 7,000 firms, fell to 102.4 from 104.8 in March.

The mid-range forecast of 52 economists polled by Reuters last week was for the index to slip to 104.3, with predictions ranging from 103.0 to 105.0.

A separate Ifo gauge of current conditions fell to 108.4 in April from 111.5 the previous month. A reading of 111.0 had been forecast.

The survey's expectations component dropped to 96.8 from 98.4 in March and compared with a median forecast of 98.0.