Weaker than expected Ifo data warn that German economy is coming under increased pressure

The data from German Ifo institute released on Tuesday, showed that business morale fell more than expected in September and extends decline into fourth consecutive month.

Ifo business climate index dipped to 85.4 in September (the lowest since January) from 86.6 previous month and fell below expectations at 86.1.

The separate report showed that current conditions index, which tracks current business conditions, excluding future expectations, fell to 84.4 in September from 86.4 in August and well below 86.1 consensus.

Downbeat September data further sours the sentiment and adds to growing concerns about recovery of Europe’s largest economy, which is coming under increasing pressure.