German business sentiment rises less than expected in July, Ifo survey finds

By Maria Martinez

BERLIN (Reuters) -German business morale improved less than expected in July, a survey showed on Friday, as companies were more satisfied with current business conditions.

The Ifo institute said its business climate index rose to 88.6 in July from 88.4 in June. Analysts polled by Reuters had forecast a rise in the reading to 89.0.

"The upturn in the German economy remains anaemic," Ifo president Clemens Fuest said.

While the current conditions index modestly rose to 86.5 from 86.2 in the previous month, the business expectations index remained virtually unchanged.

(Reporting by Maria Martinez, Writing by Friederike Heine, Editing by Miranda Murray)