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MNI BRIEF: Germany Material Bottlenecks At 30-year High: Ifo
(MNI) London
German business confidence continued to decline in August, with the index complied by the Munich-based ifo Institute falling to 99.4 from 100.7 in July. Much of the decline stemmed from a sharp fall in the expectations component, with that index slumping to 97.5 from 101.0, the lowest level since February, with manufacturers particularly gloomy, according to the ifo.
"Supply bottlenecks for intermediate productions in manufacturing and worked about rising infection numbers are putting a strain on the economy," said Clemens Fuest, presides of the institute.
However, the sub index for the current situation rose for the seventh-straight month to 101.4 from 100.4 in July.
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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