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German business morale unexpectedly rises in May

BERLIN, May 23 (Reuters) - German business morale rose unexpectedly in May, as Europe's largest economy shows resilience in the face of high inflation, supply chain problems and the war in Ukraine, a survey showed on Monday.

The Ifo institute said its business climax index rose to 93.0 in May following a revised reading of 91.9 in April.

A Reuters poll of analysts had pointed to a May reading of 91.4. (Reporting by Miranda Murray and Rachel More)

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