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Germany Business Confidence August 2023

Germany: Business confidence declines for third consecutive month in August

Business confidence fell to 85.7 in August from July’s 87.4. August’s result marked the worst reading since October 2022 and marked the third consecutive decline.

The deterioration in August was driven by business sentiment worsening in all sectors, namely the construction, manufacturing, retailing, services, trade and wholesaling sectors. Trade firms, in particular, recorded one of the worst sentiment readings, likely due to continued weakness in the global economy.

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