Germany’s businesses are getting more confident, according to data just out from the IFO institute.
The institutes’s overall confidence figure jumped to 104.7 from 103.2, with 100 representing the long-term average for Germany. That’s a welcome relief after some dismal growth figures and signs that Europe’s biggest economy is slowing down.
Analysts had expected a dip in the business climate part of the index, and a small improvement in the expectations part of the index. Both improved more than expected.
Germany policy makers have come under increasing pressure to revitalise their growth figures: despite the slowdown and low inflation, the government is refusing to budge from its goal of Germany’s first balanced budget since 1969.
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