German Business Climate rose to 115.1

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Monday, Jun 26 2017

German Business Climate rose to 115.1

German business confidence unexpectedly rose in June to a record high, a survey showed on Monday, in a fresh sign that company executives are more upbeat about the growth outlook of Europe's largest economy. The Munich-based Ifo economic institute said its business climate index, based on a monthly survey of some 7,000 firms, rose to 115.1 from 114.6 in May. The reading compared with a Reuters consensus forecast for a value of 114.4.

"Sentiment among German businesses is jubilant," Ifo chief Clemens Fuest said in a statement. "Companies were significantly more satisfied with their current business situation this month. They also expect business to improve. Germany's economy is performing very strongly."

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