The German Ifo confidence index, which measures confidence in the country, rose in August. The index, which is based on a survey of nearly 9,000 companies in Germany, rose to 89 points, compared to July’s reading of 88.6 points, while expectations were higher at 88.7 points, reflecting improved business expectations.
In detail, the current situation index slowed to 86.4, compared to 86.5 in July, while the expectations index rose to 91.6, up from 90.8 in July.
Across sectors, the index for the manufacturing sector fell to -12.2 from -11.9 in July, while the index for the services sector slowed to 2.6 from 2.8