The mood in the German economy is rising but still looks a bit worse than expected, according to a monthly index from the German economic institute Ifo.
”The upturn in the German economy is still sluggish”, writes Ifo chief Clemens Fuest in a press release.
The Ifo index for July did indeed rise to 88.6 from 88.4 in June. But analysts had on average expected an increase to 89.0 according to Bloomberg's compilation of forecasts.
The sub-index for the view of the current situation rose to 86.5 from 86.2. There, expectations were at 86.7. The sub-index for the view of the future rose to 90.7 from 90.6 against expected 91.1.
