German companies are gearing up for a bumper season after the summer lull.
The business climate in Europe’s largest economy improved for a sixth month in July, according to Munich-based Ifo institute. The index, based on a survey of 7,000 German companies from manufacturing, trade and construction, rose to 116.0 from a revised 115.2 in June. That’s the highest level since 1991 and compares with a median estimate in a Bloomberg survey for a drop to 114.9.
The euro rose after the report and traded at $1.1660 at 10:24 a.m. Frankfurt time.