German business confidence declined to its lowest level in nearly six years in April, driven by the supply chain disruptions and energy shocks caused by the war in the Middle East, survey data from the ifo Institute revealed Friday.
The business climate index dropped to 84.4 in April from 86.3 in March. The reading hit the lowest since May 2020 but remained above economists' forecast of 85.7.
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by Renju Jaya
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