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German businesses shrug off Brexit fears

The Ifo institute's business confidence index for Germany fell to 108.3 points in JulyBritain’s vote to leave the EU has had a limited impact on business confidence in Germany, with belief in domestic strength still strong, a key survey showed on Monday. The closely-watched business confidence index from the Ifo institute in Munich fell to 108.3 points in July from June’s figure of 108.7. Falling confidence was due to “far less optimistic business expectations on the part of companies,” Ifo head Clemens Fuest said in a statement.

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