The Ifo institute said Friday that its monthly index declined to 98.5 points from 99.3 in January, sinking to its lowest level since December 2014. That was a slightly worse showing than the 98.9 points economists had forecast.
Managers’ assessment of both their current situation and their outlook for the next six months darkened.
Germany’s economy shrank in the third quarter and stalled in the fourth. The Ifo said that its survey and other indicators at least point to a return to quarterly growth of 0.2 percent in the current quarter.