German firms are feeling more confident than at any time in the past 16 months, according to the latest survey of the sector.
The Ifo think tank’s business survey index for August outstripped market expectations by rising to 107.5, up from 106.2 in July.
That is Ifo’s highest since April 2012 and signals that the powerhouse of the European economy, led by Angela Merkel, is continuing to expand. GDP is estimated to have grown by 0.7% between April and June, having flatlined in the first quarter.
“The German economy continues surfing on the waves of optimism,” said Carsten Brzeski of ING.
Read more: German confidence up as powerhouse of EU economy continues to expand - Business News - Business - The Independent
The Ifo think tank’s business survey index for August outstripped market expectations by rising to 107.5, up from 106.2 in July.
That is Ifo’s highest since April 2012 and signals that the powerhouse of the European economy, led by Angela Merkel, is continuing to expand. GDP is estimated to have grown by 0.7% between April and June, having flatlined in the first quarter.
“The German economy continues surfing on the waves of optimism,” said Carsten Brzeski of ING.
Read more: German confidence up as powerhouse of EU economy continues to expand - Business News - Business - The Independent
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