German business sentiment remains stagnant in May, according to Ifo

In May, German business sentiment showed no improvement as expected, according to a survey released Monday by the Ifo institute. The business climate index held steady at 89.3, falling short of analysts' forecasts of 90.4. 

Current business satisfaction among companies declined, although there was optimism about future prospects. 

The report noted that industries like manufacturing, trade, and construction are recovering, while service providers face challenges. 

Overall, the German economy is seen slowly emerging from the crisis, according to the institute.

Paraphrasing text from "Reuters" all rights reserved by the original author.