business sentiment in germany worsened in july for the third month in a row and by more than expected with weakness in the countrys key manufacturing base once again reflecting a more pessimistic economic outlook the ifo businessclimate index declined to 873 in july from 886 in june according to data from the ifo institute published tuesday missing expectations of 881 by economists polled by the wall street journal the situation in the german economy is turning bleaker said clemens fuest president of the ifo institute companies were notably less satisfied with their current business fuest said with the indicator gauging current conditions tumbling to 913 in july from 937 in june meanwhile the index assessing expectations for the next six months also ticked down to 835 in july from 838 in june the survey said in manufacturing expectations were more pessimistic with companies receiver fewer new orders capacity utilization fell below its longterm average for the first time in more than two years ifo said the climate index was also weaker on month in ifos other tracked sectors services trade and construction the latter of which fell to its lowest level since february 2010