German business prospects unexpectedly decline, economy lacks momentum.

Germany's business prospects have declined at the beginning of the year, despite government promises of large-scale investments, the economy remains weak. A report released by the Ifo Institute on Monday showed that its expectations index unexpectedly dropped from 89.7 in December to 89.5, below the expected 90.3. However, the current situation index showed a slight increase. Ifo President Clemens Fuest stated in a declaration, "The German economy lacks momentum at the start of the new year." While the manufacturing sector's business environment has significantly improved, the service sector continues to deteriorate.