German Upswing Set to Last as Sentiment Jumps to Record High
- Ifo business climate index jumps to 114.6 vs estimate 113.1
- Consumption, investment and trade all contributed to 1Q growth
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The German economy is firing on all cylinders, and a surge in sentiment suggests it has staying power.
Business confidence rose to the highest since 1991 this month, while manufacturers saw the fastest growth in six years amid a surge in orders. Consumer spending, investment and exports all contributed to growth in the first quarter, helping the economy to expand 0.6 percent, its strongest performance in a year.