German business confidence fell in January, a survey from the Munich-based Ifo institute showed Wednesday, with firms less optimistic about the future as the world faces increasing geopolitical uncertainty.

The Ifo business confidence index stood at 109.8 points in January, a fall of 1.2 points to its lowest level since the 109.5 reading in September.

Analysts surveyed by Factset had predicted a slight increase to 111.3 points.