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German business confidence weakened in January, reports said citing survey results from the ifo institute on Monday.
The business confidence index fell to 90.1 in January from revised 92.2 in the previous month. The score was forecast to drop moderately to 91.8. Current assessment as well as expectations deteriorated in January. The current assessment index slid to 89.2, which was below the expected reading of 90.6.
Likewise, the expectations index decreased to 91.1, which was also below the consensus forecast of 93.2.
