BERLIN (Reuters) – German business morale unexpectedly fell in June due to more pessimistic expectations of Europe’s largest economy, a survey showed on Monday.
The Ifo institute said its business climate index sank to 88.6 in June from 89.3 in May, compared with a reading of 89.7 forecast by analysts in a Reuters poll.
“The German economy is having difficulty overcoming stagnation,” said Ifo president Clemens Fuest.
The expectations index dropped to 89.0 in June from a slightly revised 90.3 the month before. Analysts had expected that index to rise to 91.0.
(Reporting by Miranda Murray, editing by Thomas Seythal)
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