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German Ifo Institute released its business confidence figures for Germany on Wednesday. German business confidence index dropped to 107.4 in June from 108.5 in May, missing expectations for a decline to 108.1.
"The outlook for the German economy is overcast," Ifo President Hans-Werner Sinn said.
The Ifo current conditions index fell to 113.1 from 114.3, missing forecasts of a decline to 114.1.
The Ifo expectations index declined to 102 from 103. Analysts had expected the index to decrease to 102.5.
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