BERLIN (AP) — Business confidence in Germany dropped further than expected in July as worries about the impact of Europe’s debt crisis on the region’s biggest economy deepened, a closely watched survey showed Wednesday.

The Ifo institute’s confidence index fell for the third consecutive month, dropping to 103.3 points in July from 105.2 in June. The reading was the lowest since the index stood at 102.0 in March 2010. Economists had expected a more modest decline in the index to 104.5.

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