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German Business Confidence Ticks Lower in July: Ifo

Published 07/25/2018, 04:00 AM
Updated 07/25/2018, 04:00 AM
© Reuters.  German business confidence ticks lower in July: Ifo

© Reuters. German business confidence ticks lower in July: Ifo

Investing.com - German business confidence ticked lower in July, according to survey data released on Wednesday.

The Munich-based Ifo economic institute said its business climate index, based on a monthly survey of companies, ticked down to 101.7 from 101.8 in June.

The reading was slightly better than economists’ expectations for 101.6.

Businesses assessed the current situation slightly better, with the sub-index edging up to 105.3 from 105.1, compared to expectations for 104.8.

The business expectations index, which measures attitudes toward business prospects over the next six months, declined to 98.2 from 98.6 last month.

That was slightly better than estimates for a reading of 98.3.

The monthly index is based on a survey of around 7,000 German firms in the manufacturing, construction, wholesale and retail sectors.

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