Confidence among German businesses showed an unexpected fall in October as concerns over a strong euro and a U.S. government shutdown resolved earlier this month took their toll.
The widely watched Ifo business climate data for Germany, the first drop in six months, showed business morale fell to 107.4 from 107.7, missing forecasts.
Firms assessed their business outlook slightly less optimistically than last month and were also less positive about the current business situation, but the figures remain above average.
“The German economy has not yet moved fully into gear,” the Munich based think tank which releases the data said in a press release on Friday.
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