German Business Confidence Unexpectedly Weakened in April
- Ifo business climate index drops to 106.6 from 106.7
- Gauge for current situation fell, expectations improve
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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.