German business confidence falls

|By:, SA News Editor

The German Ifo institute's business-climate index has slipped to 110.4 in May from 111.2 in April and missed consensus of 110.9.

The current-situation reading declined to 114.8 from 115.3 and undershot forecasts of 115.5, while the expectations print fell to 106.2 from 107.3 and vs estimates of 106.6.

The euro dives and is -0.2% at $1.3631, while the DAX is flat.

CESifo Web site

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