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Business

German business confidence at 10-month high

German business remains upbeat about the future, with the Ifo institute's widely watched business confidence index rising for the sixth straight month and marking a 10-month high.

The index for April rose more than expected, to 108.6 from March's 107.9, with German companies rating their current situation particularly well.

The Ifo business sentiment index, which reflects the views of around 7,000 firms based in Germany, shows that low oil prices and the weak euro had a positive impact on companies.

"The upswing in the German economy continues," Ifo President Hans-Werner Sinn said in a statement. But the poll also shows that companies are not quite as upbeat about their future prospects.

On Wednesday, the German government

raised its growth forecast

to 1.8 percent for both 2015 and 2016, but Economy Minister Sigmar Gabriel warned that there was no reason for complacency.

Earlier in the week, the widely watched

ZEW index

, which polls institutional investors and analysts, dropped 1.5 points to 53.3 points in April, with analysts citing weakness in the global economy, which is seen to be hurting exports going forward.

ng/uhe (Reuters, dpa)

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