April 24, 2019 / 8:15 AM / a month ago

German business morale dips as economy loses steam

BERLIN, April 24 (Reuters) - German business morale deteriorated in April, a survey showed on Wednesday, bucking expectations for a small rise and suggesting Europe’s largest economy is losing momentum as trade tensions hamper its exporters.

The Munich-based Ifo economic institute said its business climate index fell to 99.2 from an upwardly revised 99.7 in the previous month. The April reading compared with a consensus forecast for 99.9.

“The German economy continues to lose steam,” Ifo President Clemens Fuest said in a statement.

Writing by Paul Carrel Editing by Michelle Martin

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