Germany's business climate index has dipped to a 29-month low in October, according to a Munich-based research institute.
The Ifo Business Climate Index edged down to 84.3 in October from September's revised reading of 84.4. "The German economy is facing a difficult winter," the research institute said on Tuesday amid the arriving recession. The market forecast a larger decrease in the main reading with the index projected to be at 83.8 in the month.The Ifo Business Expectations Index rose to 75.6 in October, up from 75.3 in September.
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