The Ifo institute’s confidence index of German entrepreneurs in the country’s economy rose in May, contrary to forecasts. The value of the indicator, calculated by the Ifo Institute for Economic Research in Munich, increased to 93 points this month from a revised 91.9 points in April. Experts polled by Trading Economics, on average, predicted a decrease in the indicator to 91.4 points from the previously announced 91.8 points. The index of expectations of German business leaders for the next six months rose by 0.2 points to 86.9 points. The indicator of business attitude to the current situation rose to 99.5 in May from 97.2 points a month earlier. The business climate has improved in all areas: manufacturing, construction and services. In retail, the confidence index fell at a record pace. The Ifo study is based on a survey of about 9,000 executives in the industrial and construction sectors, as well as the service and trade sectors. Source: FINMARKET.RU

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