German business morale weakens in May for first time in seven months

BERLIN (Reuters) - German business morale deteriorated slightly in May for the first time since October though it remained at a high level overall, a leading survey showed, adding to signs of softening but nonetheless decent growth in Europe's largest economy. Ifo's business climate index, based on a monthly survey of some 7,000 firms, edged down to 108.5 in May from 108.6 in April. It was slightly above the Reuters consensus forecast for a reading of 108.3. (Reporting by Michelle Martin; Editing by Paul Carrel)