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Corporate morale lower in France and Germany

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Corporate morale lower in France and Germany

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Surveys in France and Germany have revealed that corporate morale in both countries fell as firms lost confidence after the recent chaos in the financial markets. The Munich-based Ifo economic research institute said that its business climate index – based on a poll of around 7,000 firms – decreased to 92.9 points from 94.8 in August. Findings in France revealed that the morale of French companies fell in September. A monthly survey by the national bureau of statistics, showed confidence had fallen to its lowest level since July 2003.