A closely watched survey shows German business confidence has slipped slightly as companies expressed satisfaction with their current situation but increasing worries about the future.

According to the Associated Press, the Ifo Institute said Friday, May 22, its Business Climate Index dipped to 108.5 points for May from 108.6 points the month before.

The survey of some 7,000 firms in manufacturing, construction, wholesaling and retailing showed a rise in their evaluation of their current situation to 114.3 points from 114.0 in April.

When asked about their expectations for the next six months, however, their evaluation dropped to 103.0 points from 103.4 the month before.