Business boost
April 23, 2010
The business climate index from the Ifo institute suggests that trading conditions in Germany are at their most favorable in almost two years, having jumped further than expected this month.
The Munich-based Ifo institute's business confidence index rose more than expected to 101.6 points this month. In March, the index hit a 20-month high of 98.1 for Germany as a weak euro fuelled export hopes.
Analysts had expected the indicator would edge up to 98.9 points this month.
Ifo President Hans-Werner Sinn said German companies are "considerably more satisfied" with the current business climate. "The German economy has shifted into a higher gear," he said.
The rise in the Ifo index is the latest sign that German industry leaders have laid aside worries about Greece's debt crisis and the knock-on effect of the recent airspace closure, to focus on the prospects for an economic recovery.
It adds to hopes that Europe's biggest economy remains on track to emerge from what has been its deepest recession in over half a century.
cb/dpa/AP
Editor: Mark Hallam