German Business Climate Hits Record as Economy Proves Robust
- Ifo confidence index rises to 116.0 vs est. drop to 114.9
- Gauges for current conditions and expectations both improved
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German companies are gearing up for a bumper season after the summer lull.
The business climate in Europe’s largest economy improved for a sixth month in July, according to Munich-based Ifo institute. The index, based on a survey of 7,000 German companies from manufacturing, trade and construction, rose to 116.0 from a revised 115.2 in June. That’s the highest level since 1991 and compares with a median estimate in a Bloomberg survey for a drop to 114.9.