German business confidence slipped again in February, a closely watched survey showed Friday, indicating that the growth of Europe's biggest economy may slow down a bit after a robust performance last year.

The Munich-based Ifo economic institute said Friday that its monthly business climate index declined to 107 in February from 107.9 in January.

Business expectations also fell from 103.2 in January to 102.6 in February, which analysts attributed to waning foreign demand for German goods and a rise in value-added tax that could hurt domestic consumption.

The Ifo Business Climate Index, considered one of Europe's key economic indicators, is based on around 7,000 survey responses of companies in Germany's manufacturing, wholesaling and retailing sectors.

Source: Xinhua