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German business sentiment strengthened more than expected in May, reports said citing survey data from Ifo institute on Tuesday.
The business sentiment index rose to 114.6 from 113.0 in April. The expected reading was 113.1.
The current conditions indicator came in at 123.2, which above the forecast of 121.0.
At the same time, the expectations index improved to 106.5 in May. Economists had forecast the index to rise moderately to 105.4 from April's initial estimate of 105.2.
