It seems German business confidence fell to a 10-month low in August. The Munich-based Ifo research institute's sentiment index, based on responses from 7,000 executives, declined to 105.8 from 106.4 in July. The Ifo decline was led by a drop in the Business Expectations outlook for the coming six months, with the index falling to 100.4 from 101.7. The effect of this was cushioned by a slight gain in the assessment of current conditions index which rose to 111.5 from 111.3. This was the first increase in four months.
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