IFO Business Climate Index In Germany Hits 101.8 Points In June, Sign Of Economic Revival

MOSCOW (UrduPoint News / Sputnik - 24th June, 2021) The business climate index in Germany in June rose from 99.2 points in May to 101.8 in June, performing better than forecast, the IFO research institute reported on Thursday.

Analysts predicted the index to hit 100.6 points, according to the survey made earlier by the DailyFX portal.

"Sentiment among German managers has improved markedly once again. The ifo Business Climate Index rose from 99.2 points in May to 101.8 points in June," the reports said.

At the same time, the economic situation index in Germany for June rose to 99.

6 points from 95.7 points in May. Analysts expected the index to reach 97.8 points.

The economic expectations index also saw an increase from 102.9 points in may to 104 points in June, as compared to the forecast 103.9 points.

German companies assessed their current business situation as much better and were more optimistic about the second half of the year, the research stated. This can mean that the German economy is on the path to overcoming the pandemic crisis.