German business confidence hits 10-month high in April: Ifo

24th April 2015, Comments 0 comments

German business confidence rose to its highest level in 10 months in April, as the upturn in Europe's biggest economy continues, the Ifo economic institute said Friday.

The Ifo institute's closely watched business climate index rose to 108.6 points this month, its highest level since June 2014, the think tank said in a statement.

It was the sixth consecutive monthly increase and was better than analysts had been expecting.

Companies' assessments of their current business situation "once again improved considerably," said Ifo president Hans-Werner Sinn.

"Optimistic assessments of the business outlook, however, were scaled back slightly. The upswing in the German economy continues."

Ifo calculates its headline index on the basis of companies' assessments of the current business environment and the outlook for the next six months.

The sub-index measuring current business rose to 113.9 points, also the highest level since June 2014, while the outlook sub-index slipped slightly by 0.4 point to 103.5 points, the institute said.

© 2015 AFP

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