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M. Continuo

German business morale sours for fourth straight month in August


    BERLIN (Reuters) - German business sentiment dropped for a fourth straight month in August, suggesting concerns about the Ukraine crisis and the impact of sanctions against Russia are sweeping through corporate boardrooms in Europe's largest economy.

    The Munich-based Ifo think tank's business climate index, based on a monthly survey of some 7,000 firms, fell to 106.3 from 108.0. The Reuters consensus forecast had been for a decrease to 107.0.

    It was the lengthiest period of decline since the height of the euro zone crisis in summer 2012 and sent the euro to a day's low against the dollar.

    (Reporting by Michelle Martin; Editing by Noah Barkin)