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For the fifth month in a row, business confidence in Germany, as measured by the Ifo Institute, is increasing, the analytical unit reported.

In March, the general indicator, which measures the current situation and business expectations for the coming months, reached 93.3 points, compared to 91.1 percent in February.

Housing prices in Germany have fallen the most since 2007

Analysts polled by Reuters had expected business confidence in Germany to weaken to 90.1 percent this month. 

The business climate indicator currently stands at 95.4, up from 93.9 in February, and the six-month indicator rose to 91.2 in March from a downwardly revised 88.4 in February.

Ifo's findings are that, despite the upheavals in the banking sector, the German economy is stabilizing.

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