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German Economy Moving in the Right Direction

German business confidence probably rose for a third month in July, indicating that Europe’s largest economy is recovering as the 17-nation euro region tries to shake off its longest-ever recession.

The Ifo institute’s business climate index, based on a survey of 7,000 executives, climbed to 106.1 from 105.9 in June, according to the median of 45 forecasts in a Bloomberg News survey. (GRIFPBUS) A measure of current conditions also gained, while a gauge of expectations was unchanged, the survey shows.

German unemployment unexpectedly declined in June and the nation led the first expansion in euro-area manufacturing in two years in July. The Bundesbank said this week that the domestic economy grew “strongly” in the second quarter, while warning of signs of a slowdown in coming months.

Bloomberg [1]

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