German business confidence jumps
July 27, 2015
German managers' assessment of current economic conditions and their outlook for the next six months have both improved, a survey by the Munich-based Ifo think tank showed Monday.
The carefully watched barometer rose to 108 points in July from 107.5 points in June. Economists had expected a slight decline to 107.2 points.
"The preliminary easing of the Greece question has contributed to the improved sentiment in the German economy," Ifo President Hans-Werner Sinn said in a statement.
Worries over Greece subside
"Companies' assessments of the situation improved significantly after a damper the previous month," Sinn added. "The business prospects too were somewhat more optimistic after three consecutive declines."
After months of crisis talks and fears Greece would crash out of the eurozone, European finance ministers and the Greek government have agreed to resume talks for a third EU-IMF bailout.
The Ifo institute polls several thousand managers each month on their assessment of the economy.
bea/cjc (AP, AFP, dpa)