German business morale remained unchanged from the previous month in January, a new survey showed today.
The Ifo institute said its business climate index remained at 87.6 this month, the same as in December.
Analysts polled by Reuters had forecast a slight rise to 88.2.
"The German economy is starting the new year without momentum," said Ifo's President Clemens Fuest.
Assessments of the current situation were revised slightly upwards, with the indicator rising to 85.7 in January from 85.6 a month earlier.
However, expectations clouded over slightly, falling to 89.5 from 89.7 in the previous month.
The index rose significantly in the manufacturing, retail and construction sectors, while in services, the business climate deteriorated.
