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.