BERLIN – German business confidence has risen for the second consecutive month, a closely watched survey showed Wednesday.
The result was slightly better than economists' expectations.The Ifo institute said its monthly confidence index rose to 86.2 points in June from 79.7 in May.
Economists had forecast an increase to 85. Managers' assessment of both their current situation and, in particular, the outlook for the next six months brightened.The Ifo said it was the strongest monthly increase it has ever recorded and “German business sees light at the end of the tunnel.”The German economy, Europe's biggest, went into a recession in the first quarter that is expected to deepen in the current quarter.