German business sentiment rises more than expected in July, Ifo survey finds
Overview of the July Ifo Business Climate Survey
By Maria Martinez
Business Morale and Expectations
BERLIN, July 27 (Reuters) - German business morale grew more than expected in July thanks to significantly improved expectations, a survey showed on Monday.
Ifo Business Climate Index Results
The Ifo institute said its business climate index rose to 86.6 from a slightly upwardly revised 85.7 in June.
Analyst Forecasts and Economic Outlook
Analysts polled by Reuters had forecast an increase to 86.0.
"Despite the uncertain situation in the Persian Gulf, the German economy is showing less pessimism," Ifo's president Clemens Fuest said.
Sector Performance and Sentiment
Economic Expectations and Current Performance
Economic expectations rose to 86.7 in July from 84.3 in June, posting a strong increase.
However, companies were slightly less satisfied with their current business performance, with the index falling to 86.5 in July from 87.0 in the previous month.
Sentiment Across Economic Sectors
Business sentiment improved across all economic sectors, the survey showed.
(Reporting by Miranda Murray, Editing by Linda Pasquini)
