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Stock indices closed lower due to the IMF's economic growth cut and disappointing German industrial production. The International Monetary Fund (IMF) cut its forecast for global economic growth to 3.3% in 2014, down from a previous forecast of 3.4%. 2015 forecast was lowered to 3.8%, down from a previous forecast of 4.0%.
German industrial production declined 4.0% in August, missing expectations for a 1.4% decrease, after a 1.6% rise in July. That was the largest drop since 2009.
July's figure was revised down from a 1.9% gain.
Indexes on the close:
Name Price Change Change %
FTSE 100 6,495.58 -68.07 -1.04 %
DAX 9,086.21 -123.30 -1.34 %
CAC 40 4,209.14 -77.38 -1.81 %
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