Defying most predictions, the German business index jumped to a two-year high in June, increasing to 101.8 from 101.5 on the index calculated by the Ifo Institute. The index is based on a survey of 7,000 business executives and is considered an accurate assessment of business optimism.
Ã¢â‚¬Å“WeÃ¢â‚¬â„¢re in a period of very, very strong economic growth,Ã¢â‚¬Â said Joerg Kraemer, chief economist at Commerzbank AG in Frankfurt. Ã¢â‚¬Å“Driven by foreign demand, the recovery will continue in the second half of the year — albeit at a slower pace.Ã¢â‚¬Â
Source: Bloomberg News
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