January 25, 2019 / 9:12 AM / 6 months ago

German business morale falls 5th time in a row in January

BERLIN, Jan 25 (Reuters) - German business morale fell for the fifth time in succession in January, a survey showed on Friday, suggesting that company executives expect growth in Europe’s biggest economy will continue to lose momentum.

The Munich-based Ifo economic institute said its business climate index fell to 99.1, the lowest level since February 2016. This was also lower than a consensus forecast of 100.6.

“Disquiet is growing among German businesses,” Ifo President Clemens Fuest said in a statement. “The German economy is experiencing a downturn.”

Reporting by Joseph Nasr and Rene Wagner Editing by Michelle Martin

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