FRANKFURT: German business confidence slipped unexpectedly in April, but not enough to dent the overall positive mood in Europe's biggest economy, the Ifo economic institute said on Monday.
The Ifo institute's closely-watched business climate index eased to 106.6 points in April from 106.7 points in March, Ifo said in a statement.
Analysts had been expecting a modest increase in the index this month.
Nevertheless, "the mood in the German economy remains positive," said Ifo president Clemens Fuest.
"Although companies were somewhat less satisfied with their current situation, their business expectations brightened once again. The moderate upturn in the German economy continues," Fuest said.
Ifo calculates its headline index on the basis of companies' assessments of the current business environment and the outlook for the next six months.
The sub-index measuring current business fell by 0.6 point to 113.2 points, while the outlook sub-index climbed by 0.4 point to 100.4 points, the institute said.
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