CAPTION: “The German economy is at a summer high,” said Ifo chief Clemens Fuest. (picture alliance/Christian Charisius/dpa/archive)
German business confidence has risen for the first time in nine months due to "the significantly more optimistic outlook of industrial companies, especially in the automotive industry," the Munich-based Ifo institute said Monday.
The institute said that its closely watched business confidence survey rose to 103.8 points in August from 101.7 points in July after declining every month since November.
Based on a survey of about 7,000 executives, the Ifo's August index was significantly higher than the 101.8 points forecast by analysts.
"The German economy is at a summer high," said Ifo chief Clemens Fuest, adding that one reason for this was "the significantly more optimistic outlook of industrial companies, especially in the automotive industry."
Notice: No person, organization and/or company shall disseminate or broadcast the above article on Xinhua Silk Road website without prior permission by Xinhua Silk Road.
A single purchase
