The renewed improvement in the business climate index in west Germany confirms the expectations of the Ifo Institute that the economic recovery has begun and is gaining strength,
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The Ifo institute said Thursday its business climate index fell to 89 . 9 from 91 . 3 in June, a drop larger than some analysts had expected.
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The Munich economic research institute Ifo also said its business climate index had fallen to the lowest level in 15 months, to 97.5 in July from 98.9 in June.
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Among data released Monday, the German Ifo business climate index eased to 95 . 2 in September from 95 . 3 in August, slightly above economists'forecasts of 95 . 1.
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The Ifo institute said Thursday its business climate index fell to 89 . 9 in July from 91 . 3 in June, a drop larger than some analysts had expected.
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Germany's economic picture was further clouded by an unexpected drop in the respected Ifo institute's business climate index to 86 . 6 in April, from 88 . 1 in March.
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Hopes of a U . S . interest rate cut next week buoyed prices while news that Germany's Ifo business climate index fell more than expected in May hurt investors'confidence.
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Germany's Ifo business-climate index plummeted to its lowest level since 1993 and its biggest monthly fall since 1973 _ worrying signs that Europe's largest economy is leading the way toward recession.
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The Ifo institute said Thursday its closely watched business climate index fell to 89.9 from 91.3 in June _ a drop that exceeded analysts'expectations and followed a smaller retreat last month.
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Prices were also bolstered by figures showing Germany's IFO business-climate index had risen to 84.9 points, its first increase in four months . The index hit an eight-year low of 84.7 in October.
