Germany's business confidence weakened for the first time in seven months in May as managers were skeptical about the upcoming summer amid the tightening monetary policy and mounting fears of recession in the US, survey data from the ifo Institute showed Wednesday.
The business confidence index fell more-than-expected to 91.7 in May from a revised 93.4 in the previous month. The expected score was 93.0.
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by Renju Jaya
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