By Nina Adam 
 

FRANKFURT--German business sentiment deteriorated further in June, with companies less satisfied with their current business situation, the Ifo Institute said Monday.

The Ifo business-climate index fell to 101.8 from 102.3 in May. It marks the lowest reading since May last year, when the index also stood at 101.8. Economists polled by The Wall Street Journal forecast an outcome of 101.6.

"The tailwinds enjoyed by the German economy are subsiding," Clemens Fuest, the president of the Ifo Institute, a supply-side economics think tank in Munich, said.

Each month, the Ifo polls about 9,000 companies in the manufacturing, services, trade and construction sectors.

The Ifo Institute last week scaled back its outlook for Europe's largest economy, forecasting growth of 1.8% in 2018 and again in 2019. Previously, it had predicted growth of 2.6% in 2018 and 2.1% in 2019.

Write to Nina Adam at nina.adam@wsj.com

(END) Dow Jones Newswires

June 25, 2018 04:39 ET (08:39 GMT)

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