German businesses are still pessimistic about the economy's prospects, according to a survey

German businesses are still pessimistic about the economy's prospects, according to a survey

German business sentiment held steady at a low level in January, a survey showed Monday, with firms still pessimistic about any sustained recovery in Europe's biggest economy.

The Ifo institute's confidence barometer came in at 87.6 points, weaker than some forecasts and the same reading as December when it slipped to its lowest for months.

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