BERLIN, April 24 (Reuters) - German business confidence deteriorated for a fifth consecutive month in April, a survey showed on Tuesday, in a further sign that Europe’s biggest economy is losing some of its growth momentum.
The Munich-based Ifo economic institute said its new business climate index, which for the first time incorporated responses from the services sector, fell to 102.1 from 103.3 in March. A Reuters poll had pointed to a reading of 102.7.
“High spirits among German businesses have evaporated,” Ifo chief Clemens Fuest said. “The German economy is slowing down,” he added. (Reporting by Michael Nienaber Editing by Paul Carrel)