The mood in the German economy deteriorated further in July, according to a regular study from leading economists. The business climate index published by the Munich-based ifo institute on Thursday fell by 1.6 points to 87.0 points. Analysts had expected business sentiment to brighten and had on average forecast 89.0 points. This is the third consecutive decline in Germany’s most important economic barometer. “The German economy is stuck in crisis,” ifo President Clemens Fuest said. The approximately 9,000 companies surveyed rated the outlook for their future business as significantly worse. T…