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German business sentiment worsens in September

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German business morale deteriorated in September, falling for the fifth month in a row, a survey showed on Monday.

The Ifo institute said its business climate index stood at 85.7 versus a forecast of 85.2, according to analysts polled by Reuters."The German economy is treading water," Ifo president Clemens Fuest said.

Companies were less satisfied than in the previous month with their current business situation. However, their pessimism regarding the coming months dissipated slightly.

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