German Business Sentiment Improved More Than Expected in May

Today’s survey showed that business confidence in Germany improved more than expected in May, with growing business optimism in light of the decline in coronavirus cases and cautious steps towards resuming activities of Europe’s largest economy.

The IFO Institute said its business climate index rose to 99.2 from a revised reading of 96.6 in April. A Reuters poll of analysts’ opinions indicated a smaller increase, with the index reaching 98.2.