German business outlook beats forecasts

 
Suzie Neuwirth

GERMAN business confidence rose more than expected in May, according to the Ifo business climate index.

The index rose to 105.7 in May from 104.4 in April, well above analysts’ forecasts that it would remain flat.

The figures suggest that the outlook for the German economy may be improving, after growing just 0.1 per cent in the first quarter of 2013.