Economics
German Businesses Signal Optimism Recovery Is on Track
- Ifo business climate rose more than forecast in August
- Second quarter saw huge declines in investment, exports
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German companies have turned slightly more optimistic that the economy will continue on its long road to recovery, after the pandemic eroded spending and investment in the first half of the year.
Business confidence rose to 92.6 in August from 90.4 in July, the Ifo Institute said Tuesday. That beat the median forecast of economists in a Bloomberg survey. Expectations also improved to 97.5 from 96.7.