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German business confidence falls, stoking recession fears
As it faces an energy crisis
26 September, 15:33
(ANSA-AFP) - FRANKFURT, SEP 26 - Germany's business climate
deteriorated sharply in September, according to a key survey
published Monday, the latest sign that Europe's top economy is
heading for recession as it faces an energy crisis. The Ifo
institute's monthly confidence barometer, based on a survey of
about 9,000 companies, slipped 4.3 points to 84.3 from the
previous month. It was the fourth straight month of contraction,
taking the indicator to its lowest level since May 2020, with
the decline felt across the economy, from manufacturing to the
service sector. "The German economy is slipping into recession,"
said Ifo president Clemens Fuest. (ANSA-AFP).
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