BERLIN, June 26 (Xinhua) -- German business sentiment surged to new record high in June, a closely-watched survey showed on Monday.
The ifo Business Climate Index rose to 115.1 points in June from 114.6 points last month, refreshing its record since 1991.
"Sentiment among German businesses is jubilant," the Munich-based Ifo's President Dr. Clemens Fuest said in a statement. "Germany's economy is performing very strongly."
Ifo's two sub-indices both beat forecasts, with the measure of current economic conditions rising to 124.1 in June from a revised 123.3 and the gauge of expectations improving to 106.8 from 106.5.
The Ifo Business Climate Index is based on ca. 7,000 monthly survey responses from firms in manufacturing, construction, wholesaling and retailing.
In June, the index of manufacturing rose slightly. In wholesaling the business climate improved for the third month in succession to reach its highest level since December 2010. The index in retailing also improved notably. Retailers' optimism about the short-term business outlook reached its highest level since September 2015.
But the index in construction fell. Contractors marginally scaled back their assessments of the current business situation and business expectations, which nevertheless remain at a high level.
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