By Maria Martinez
BERLIN, April 24 (Reuters) – German business morale fell more than expected in April, as the Iran war made companies more pessimistic and threatened the long-awaited recovery of Europe’s biggest economy.
The Ifo institute said on Friday its business climate index fell to 84.4 in April from 86.3 in March, posting the lowest reading since May 2020.
Analysts polled by Reuters had forecast a slight decline to 85.5.
“The Iran crisis is hitting the German economy hard,” said Clemens Fuest, president of the Ifo institute
Assessments of the current situation fell to 85.4 from 86.7 in the previous month, while expectations declined to 83.3 from 85.9 in March.
(Reporting by Maria Martinez and Linda Pasquini, Editing by Miranda Murray)
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