German business morale unexpectedly dipped in April, a survey showed on Monday, with global growth concerns prompting firms to tone down a generally optimistic outlook they had pegged on a solid start to 2016 for Europe’s biggest economy.
The Munich-based IFO economic institute said on Monday its business climate index, based on a monthly survey of some 7,000 companies, inched down to 106.6 in April from 106.7 in March.
IFO said the reading was still well above the survey’s long-term average, but it was also the fourth fall in five months and below a Reuters consensus forecast of 107.0.
