German Ifo indicator falls for first time since May

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Germany's Ifo indicator of business confidence in Europe's top economy fell in March for the first time since May, the Ifo institute said Friday.

The closely watched index inched down to 111.1 points from 111.3 in February after nine consecutive monthly rises. The fall was however not as steep as feared by economists, who had forecast on average a drop to 110.5 points.

© 2011 AFP

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