FRANKFURT, June 27: Business sentiment in Germany improved for the first time for five months in June, a new poll showed Monday, as industry leaders looked to a weaker euro and possible change in government as a way out of the country’s current economic impasse. Nevertheless, with confidence still at historically low levels even after this month’s improvement, the eurozone’s biggest economy was not out of the woods yet, analysts here said.
The widely watched German business climate index, calculated each month by the Ifo economic research institute, rose to 93.3 points in June from 92.9 points in May, Ifo said in a statement.
The slight improvement, following four monthly declines in a row, was exactly in line with analysts’ expectations, given the fall in the value of the euro and the prospect of an early general election in the autumn.
“Companies believe that reforms will be implemented,” said Ifo expert.—AFP
