Business sentiment among German companies recovered to some extent in May from the record low posted last month, according to a key indicator released on Monday.
The Munich-based Ifo institute said its closely watched business climate index rose 5.3 points to 79.5, slightly exceeding analysts' expectations of a rise to 78.5 points.
The initial easing of Germany's restrictions to stem the spread of the coronavirus were generating a glimmer of hope, Ifo President Clemens Fuest said.
The Ifo business climate index is based on monthly surveys of around 9,000 firms in manufacturing, the service sector, construction, wholesale and retailing. A value of below 100 points to a negative outlook.
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
