BERLIN (Reuters) -German business morale improved slightly more than expected in May, a survey showed on Thursday, thanks to less gloomy expectations. The Ifo institute said its business climate index
German business sentiment brightens in May, Ifo survey finds
BERLIN (Reuters) -German business morale improved slightly more than expected in May, a survey showed on Thursday, thanks to less gloomy expectations.
The Ifo institute said its business climate index rose to 87.5 in May from 86.9 in April.
Analysts polled by Reuters had forecast a rise in the reading to 87.4.
"The German economy is slowly regaining its footing," Ifo president Clemens Fuest said.
The improvement in business morale was mainly due to a rise in expectations to 88.9 in May from 87.4 in April.
However, current conditions fell to 86.1 from 86.4 in the previous month.
(Reporting by Rachel More, Kirsti Knolle and Maria Martinez, Editing by Madeline Chambers)
