May 25, 2018 / 8:12 AM / a year ago

German business morale unchanged in May

BERLIN, May 25 (Reuters) - German business confidence was unchanged in May after falling for five straight months, a survey showed on Friday, suggesting the mood among company executives in Europe’s biggest economy is steady despite the spectre of a global trade war.

The Munich-based Ifo economic institute said its business climate index held steady at 102.2, slightly beating a Reuters consensus forecast for a reading of 102.0.

“The declining trend in the Ifo Business Climate has stopped,” Ifo chief Clemens Fuest said. “The German economy is performing well in a difficult international situation.” (Reporting by Michelle Martin Editing by Paul Carrel)

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