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German business sentiment rises in June, Ifo survey finds
German business morale improved more than expected in June, a survey showed on Tuesday, with a particular improvement in companies' future prospects. The Ifo institute said its business climate index rose to 88.4 in June from 87.5 in May. Analysts polled by Reuters had forecast a rise in the reading to 88.2. "The German economy is slowly gaining confidence," Ifo president Clemens Fuest said. A separate Purchasing Managers' Index survey on Monday showed that business activity in Germany returned to growth in June, driven by a recovering manufacturing sector that saw its strongest increase in new orders in over three ... (full story)