German Ifo Business Confidence Deteriorates Unexpectedly

German business confidence weakened unexpectedly in July as supply bottlenecks and concerns over rising coronavirus infections weighed on the economy, survey results from the ifo Institute revealed on Monday. The business climate index fell to 100.8 in July from a revised 101.7 in June. The score was forecast to rise to 102.1 from June's initially estimated value of 101.8.

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