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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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