2018.07.2504:36:00UTC+00Germany's Ifo Business Confidence Weakens In July

Germany's business sentiment weakened marginally in July, survey results from Ifo Institute showed Wednesday.

The business confidence index fell to 101.7 in July from 101.8 in June. The score was forecast to fall to 101.5.

Companies were slightly more satisfied with their current business situation, but scaled back their business expectations slightly, Ifo President Clemens Fuest, said.

The German economy continues to expand, but at a slower pace, Fuest added.

The current conditions index came in at 105.3, above last month's 105.2 and the expected level of 104.9. Meanwhile, the expectations index dropped to 98.2 from 98.5, which was below consensus forecast of 98.3.