June 24, 2020 / 8:18 AM / a month ago

German business morale posts strongest rise ever recorded

BERLIN, June 24 (Reuters) - German business morale posted its strongest rise in June since records began as business in Europe’s largest economy “sees light at the end of the tunnel” after the coronavirus pandemic, a survey showed on Wednesday.

The Ifo institute said its June survey showed that its business climate index surged to 86.2 from an upwardly revised 79.7 in May - the largest surge since records started after reunification in 1990. A Reuters poll of economists had pointed to a reading of 85.0.

“Companies’ assessments of their current situation were somewhat better. Moreover, their expectations leaped higher. German business sees light at the end of the tunnel,” Ifo President Clemens Fuest said in a statement. (Writing by Paul Carrel Editing by Michelle Martin)

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