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German Business Climate Improves

Germany’s economy got a much-needed morale boost on Tuesday as the Ifo Institute released its latest survey of business sentiment in the country. For the seventh month in a row, the business climate index climbed, this time from 94.3 to 95.7 points. The figure suggests a slight recovery in Germany’s long-stagnant economy. Businesses polled by Ifo said both turnover and prospects had improved. Ifo chief Hans-Werner Sinn attributed the slight upturn to the buoyant effects of a recovering economy in the United States.