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24.06.2015 08:44 German business confidence index drops to 107.4 in June

German Ifo Institute released its business confidence figures for Germany on Wednesday. German business confidence index dropped to 107.4 in June from 108.5 in May, missing expectations for a decline to 108.1.

"The outlook for the German economy is overcast," Ifo President Hans-Werner Sinn said.

The Ifo current conditions index fell to 113.1 from 114.3, missing forecasts of a decline to 114.1.

The Ifo expectations index declined to 102 from 103. Analysts had expected the index to decrease to 102.5.

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