German business confidence deteriorated to a seven-month low in June as companies were markedly pessimistic about future and their assessment about current situation worsened, a monthly survey conducted by the ifo institute showed on Monday.
The business climate index slid more-than-expected to 88.5 in June from 91.5 in May. The reading was seen at 90.7. This was the lowest level since last November.
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by Renju Jaya
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