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German Business Confidence Weakens In May

German business confidence weakened less than expected in May, reports said citing survey results from Munich-based Ifo Institute on Friday.

The business confidence index fell marginally to 108.5 in May from 108.6 in April. It was expected to decline to 108.3.

Meanwhile, the current conditions index increased unexpectedly to 114.3 from 114 a month ago. Economists had expected it to fall to 113.5.

At the same time, the expectations index slid to 103 in May, in line with expectations, from 103.4 a month ago.

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