BERLIN (Reuters) - German business morale unexpectedly improved in January thanks to a more positive assessment of the current economic situation, a survey showed on Monday. The Ifo institute said its
German Business Sentiment Sees Unexpected Rise in January
BERLIN (Reuters) - German business morale unexpectedly improved in January thanks to a more positive assessment of the current economic situation, a survey showed on Monday.
The Ifo institute said its business climate index increased to 85.1 in January from 84.7 in the previous month.
Analysts polled by Reuters had forecast a reading of 84.7.
The current conditions index rose to 86.1 in January from 85.1 in December, while the expectations index fell slightly to 84.2 from 84.4.
"The German economy remains pessimistic," said Ifo's president, Clemens Fuest.
Across sectors, the Ifo index deteriorated in industry and construction, while it rose significantly for services and remained unchanged in retail.
(Reporting by Miranda Murray and Maria Martinez, writing by Rachel More)
