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German Ifo Business Confidence Drops for Sixth Month

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German business confidence dropped for a sixth month as the specter of a recession haunts Europe’s largest economy.

The Ifo institute’s business climate index, based on a survey of 7,000 executives, dropped to 103.2 in October from 104.7 in September. That’s the lowest since December 2012. Eonomists predicted a decline to 104.5, according to the median of 38 estimates in a Bloomberg survey.