Germany business confidence rises in August: Ifo

25th August 2010, Comments 0 comments

German business confidence posted a surprise rise in August, rising to 106.7 points on a key index from 106.2 points in July, the Ifo economic research institute said on Wednesday.

Analysts polled by Dow Jones Newswires had forecast on average a slight decline to 106 points following a record rise by the poll of 4.4 points in July.

The latest survey was released a day after official data confirmed Europe's biggest economy grew by 2.2 percent in the second quarter from the previous three-month period, the biggest quarterly increase since east and west Germany were reunified in October 1990.

© 2010 AFP

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