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German corporate sentiment slumps further

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German corporate sentiment slumps further

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German business morale in March fell to its lowest level since reunification in 1990.

That is according to the monthly survey of 7,000 firms by the Ifo economic research institute. However companies’ expectations for the future did edge up. At the same time, Germany’s Finance minister Peer Steinbrück said the government will not be able to stick to its forecast that the country’s economy will only contract by 2.25 percent this year.