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Greek crisis not yet hitting orders in Germany: Ifo economist

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Greece's debt crisis and euro zone tensions are not yet having any impact on orders but are causing uncertainty, Ifo economist Klaus Wohlrabe told Reuters on Wednesday.

[MUNICH] Greece's debt crisis and euro zone tensions are not yet having any impact on orders but are causing uncertainty, Ifo economist Klaus Wohlrabe told Reuters on Wednesday. "The Greek crisis is not yet having any impact on order books but it is nevertheless making people uncertain," he said.

Mr Wohlrabe also said a drop in Ifo's business climate index to 107.4 in June from 108.5 did not contradict Ifo's upward revision of its economic growth forecast last week.

The institute said last Wednesday that it expected the economy to expand by 1.9 per cent this year, up from its December forecast of 1.5 per cent.

Mr Wohlrabe said that he expected the economy to grow by 0.6 per cent in the second quarter and 0.4 per cent in the third quarter.

REUTERS