German business confidence worsens as recession risks rise

German business confidence extended its decline, falling to the weakest level in almost seven years, as a deepening manufacturing slump put Europe's largest economy on the brink of recession.

Germany's export-centered economy is struggling as global trade tensions worsen. GDP contracted in the second quarter and the Bundesbank predicts it could shrink again in the third, and the U.S.-China trade war escalated again at the end of last week...

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