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Business

Ifo: German Economy on Road to Recovery

German business confidence improved for the second month running in July, suggesting the euro zone's biggest economy is on the road to recovery, a key survey showed on Tuesday. A weaker euro had boosted prospects for exporters, the Ifo economic institute suggested. The closely watched business climate index rose to 95 points in July from 93.3 points in June, Ifo said in a statement. After the slight rise in June, from 92.9 points to 93.3, the "strong growth" of the index in July showed "the outlook was improving" for the German economy. Analysts said the prospect of a change of government in the general election on September 18 was raising optimism.

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