German Business Confidence Unexpectedly Drops
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German business confidence unexpectedly fell from a 10-month high in March as Cyprus inflamed the euro region’s debt crisis.
The Ifo institute in Munich said its business climate index, based on a survey of 7,000 executives, declined to 106.7 from 107.4 in February. That’s the first drop in five months. Economists predicted a gain to 107.8, according to the median of 42 forecasts in a Bloomberg News survey. In France, industrial confidence was unchanged this month.