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German business confidence rose to a three-year high in August. That's despite a decelerating global economy.
According to the survey conducted by a Munich-based institute, Germany's business confidence index jumped to 106.7 points this month. Economists previously predicted the index would post a slight decline.
However, recent data shows Germany's economy, Europe's largest, is on a fast track to rebound. The sharp upswing of exports and increase in investment and factory orders, has powered Germany's recovery.
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