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German business sentiment slips

Friday, March 25, 2011 - 01:00

Mar 25 - Business sentiment in Germany, Europe's largest economy, fell in March for the first time in almost a year, but didn't slip as much as was expected. Joanna Partridge reports

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Sentiment among German businesses worsened in March for the first time in almost a year. But the closely-watched Ifo think tank's monthly survey didn't fall as much as had been expected. In February, the poll of over 7000 firms in Europe's dominant economy had hit its highest since records began in 1991, following German reunification. Analysts had expected the disaster in Japan, the war in Libya and an anticipated interest rate hike from the ECB to weigh more on the mood of German companies. But half of the Ifo survey results were received before the impact of the situation at Japan's nuclear plant was felt. The crises in Japan, the Middle East and North Africa so far haven't had much effect on the German economy. The manufacturing sector is steaming ahead and demand both at home and in Asia remains strong. Joanna Partridge, Reuters

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German business sentiment slips

Friday, March 25, 2011 - 01:00