Germany’s business confidence improved more-than-expected in July, reports said citing data from the the Munich-based Ifo Institute on Monday.
The Ifo Business Climate Index rose to 108 in July, well above the 107.5 score economists had forecast. In June, the reading dropped to a four-month low of 107.4.
The current conditions index of the survey climbed to 113.9, defying expectations for a marginal drop to 113. In June, the score eased to 113.1, which was the first fall in four months.
The expectations index of the survey rose to 102.4, while it was expected to hold steady at its June reading of 102. The increase halted the falling trend seen in the previous three months.
The material has been provided by InstaForex Company – www.instaforex.com