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Ifo economist, Klaus Wohlrabe, commenting on the latest German business surveys, said that effects of tariffs on the real economy are small for the time being and despite good business sentiment, there is increasing uncertainty among companies.

He was further noted saying that if Turkish crisis is contained, it would be bearable for the German economy.

It is worth recalling that according to the report released earlier today, the German Ifo business climate  index came in at 103.7 in September. Meanwhile, the current economic assessment and the Ifo Expectations Index arrived at 106.4 points and 101.0 respectively.