German business morale deteriorated slightly less than expected in September, a survey showed on Monday, suggesting that company executives have become somewhat less confident about the growth outlook of Europe’s biggest economy, Reuters reports.
The Munich-based Ifo economic institute said its business climate index fell to 103.7 after a revised 103.9 in the previous month. This beat a Reuters consensus forecast of 103.2.
“Despite growing uncertainty, the German economy remains robust,” said Ifo chief Clemens Fuest.