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5/25, 10:00 AM (Source: TeleTrader)
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Ifo: Germany business climate improves in May

Sentiment among Germany's businesses improved in May compared to the previous month, according to the latest research from the Munich-based Institute for Economic Research (Ifo) released on Tuesday.

The Ifo Business Climate Index came in at 99.2 for May, beating expectations and reaching its highest value since May 2019. Meanwhile, the Ifo Current Economic Assessment Index stood at 95.7 this month, while the Expectations Index was reported at 102.9.

The index measuring business sentiment in Europe's largest economy came in above projections amid notably improved conditions in the tourism and hospitality sectors, the report noted.

Breaking the News / JC