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German business confidence drops slightly in May with increased worries over future

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BERLIN — A closely watched survey shows German business confidence has slipped slightly as companies expressed satisfaction with their current situation but increasing worries about the future.

PHOTO: FILE - In this Tuesday, Jan. 31, 2012 file photo, the ThyssenKrupp stainless steel factory is seen in Krefeld, Germany. Europe’s economy has been down so long, even a bit of growth looks like recovery. Markets were cheered, to be sure, by last week’s figure showing an improvement in the eurozone’s growth to 0.4 percent in the first three months of the year. Cheap oil helped, as has the launch of a 1.1 trillion monetary stimulus by the European Central Bank. But that can’t mask the currency union’s long-term sluggishness. (AP Photo/Martin Meissner, file)
FILE - In this Tuesday, Jan. 31, 2012 file photo, the ThyssenKrupp stainless steel factory is seen in Krefeld, Germany. Europe’s economy has been down so long, even a bit of growth looks like recovery. Markets were cheered, to be sure, by last week’s figure showing an improvement in the eurozone’s growth to 0.4 percent in the first three months of the year. Cheap oil helped, as has the launch of a 1.1 trillion monetary stimulus by the European Central Bank. But that can’t mask the currency union’s long-term sluggishness. (AP Photo/Martin Meissner, file)

The Ifo Institute said Friday its Business Climate Index dipped to 108.5 points for May from 108.6 points the month before.

The survey of some 7,000 firms in manufacturing, construction, wholesaling and retailing showed a rise in their evaluation of their current situation to 114.3 points from 114.0 in April.

When asked about their expectations for the next six months, however, their evaluation dropped to 103.0 points from 103.4 the month before.

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