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German Business Confidence Improves Unexpectedly

German business sentiment improved unexpectedly in September, reports said citing data from the the Munich-based Ifo Institute on Thursday.

The Ifo Business Climate Index rose to 108.5 in September from 108.3 in August. It was forecast to fall to 107.9.

Meanwhile, assessment of current situation weakened more than expected. The corresponding index slid to 114 in September from 114.8 a month ago. The expected reading was 114.7.

The expectations index improved to 103.3 from 102.2 in the prior month. Economists had forecast the index to fall to 101.4 in September.

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