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German Business Confidence Rises
Optimism among German companies grew slightly this month from May, according to the Munich-based Ifo Institute for Economic Research.
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Optimism among German companies grew slightly this month from May, according to the Munich-based Ifo Institute for Economic Research.
The group's business climate index, which is based on a survey of 7,000 executives, edged up to 105.9 in June from 105.7 the month before. Ifo's measure of current conditions declined. But its gauge of executives' expectations posted a solid gain.
June marked the second straight month of rising confidence, easing fears that the country's economy might slip back into recession, analysts say. Germany's gross domestic product contracted 0.7% in the fourth quarter of 2012 and grew only 0.1% in the January-March period.
Last week the Bundesbank projected that the country's economy will post faster growth for the second quarter. But Germany's central bank warns that expansion could slow in the second half of this year.
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