- June 24, 2021
- Posted by: Stratford Team
- Category: Business
BERLIN (Reuters) -German business morale rose by more than expected in June and hit its highest level since November 2018 on companies’ surging optimism about the second half of the year in Europe’s largest economy, a survey showed on Thursday.
The Ifo institute said its business climate index rose to 101.8 from 99.2 in May. A Reuters poll of analysts had pointed to a June reading of 100.6.
“The German economy is shaking off the coronavirus crisis,” Ifo President Clemens Fuest said in a statement.
Chancellor Angela Merkel said on Wednesday Germany was on the verge of a strong economic upswing, adding that Bundesbank chief Jens Weidmann had given a very positive assessment of the economic outlook to the cabinet.
Germany’s central bank raised its growth forecasts earlier this month and now expects the economy to reach pre-pandemic levels as soon as next quarter and grow by 3.7% this year and 5.2% next year.
German authorities have loosened COVID-19…
