German business morale dropped more than anticipated in November, adding to the negative outlook for a country projected to be the worst-performing among the G7 nations this year.
The Ifo Institute reported that its business climate index fell to 85.7 in November, according to a survey released on Monday.
Analysts surveyed by Reuters had predicted a reading of 86.0.
“The German economy is lacking strength,” said Ifo president Clemens Fuest.
The drop in business sentiment was primarily driven by a more negative evaluation of the current situation, though expectations also saw a slight decline, according to Ifo.
