German business sentiment deteriorated for the fourth month in a row in August to the lowest since late 2022 as companies' assessment of the current situation weakened sharply and they turned more pessimistic regarding the outlook, survey data from the ifo institute showed Friday.
The ifo business climate index dropped more-than-expected to 85.7 points from 87.4 in July. Economists had forecast a reading of 86.7. This was the lowest reading since October 2022.
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by Renju Jaya
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