German business confidence gains on hopes of economic rebound
Foreign
GERMAN business confidence on Monday gained more than forecast as expectations of an economic rebound in the wake of strict coronavirus restrictions grew.
The Munich-based Ifo institute said it was closely watching the business confidence index rose to 86.2 points in June after a reading of 79.7 points in May.
Analysts had expected that the index would come in at 85 points in June after it plunged to record lows in recent months as large tracts of Europe’s biggest economy were shut down to curb the pandemic.
However, driving the index higher in June was a rise in German business executives’ expectations of economic conditions in the next six months.
Analysts assessment of the current state of the economy rose more modestly. (dpa/NAN)
– Jun. 24, 2020 @ 12:19 GMT |
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