RTTNews - Wednesday, a monthly survey conducted by the Munich-based Ifo Institute for Economic Research showed that German business confidence improved for the fifth consecutive month in August. The business sentiment index climbed to 90.5 in August from 87.4 logged in July. The expected reading was 89.

While, the expectations index climbed to 95 from July's 90.4. The indicator also stood well above the consensus forecast of 92. At the same time, the gauge measuring current assessment came in at 86.1, up from 84.4 in July and the expected level of 86.

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