BERLIN, Aug. 25 (Xinhua) -- The Ifo business climate index for industry and trade in Germany fell slightly by 0.1 point in August, less than expected, the Munich-based research institute Ifo reported Friday.
According to the economic think tank, the index edged downwards from 116.0 points in July to 115.9 points in August.
Analysts had forecast a bigger dip to 115.5 points for the ongoing month.
The decline was due to slightly less positive assessments of the current business situation, while companies' short-term business outlook improves, Ifo said.
Business climate indexes in manufacturing and construction continued their record-breaking run. But indexes in wholesaling and retailing declined.
"Sentiment among German businesses remains very strong," Ifo president Clemens Fuest commented, adding that "Germany's economy remains on track for growth."
Ifo business climate index, considered the most important barometer for the German economy, is based on about 7,000 monthly survey responses from firms in the sectors of manufacturing, construction, wholesaling and retailing.
