German business morale rises to highest level in almost a year

Ifo’s index suggests Europe’s largest economy begins second quarter strongly

Minister of Finance of Germany Wolfgang Schaeuble attends Eurogroup tour-de-table during informal meeting of Ministers for Economic and Financial Affairs  in Riga. Photograph: Ints Kalnins/REUTERS

Minister of Finance of Germany Wolfgang Schaeuble attends Eurogroup tour-de-table during informal meeting of Ministers for Economic and Financial Affairs in Riga. Photograph: Ints Kalnins/REUTERS

 

German business morale rose to its highest level in almost a year in April, a leading survey showed on Friday, in a sign that Europe’s largest economy has started the second quarter on a strong footing.

Ifo’s business climate index, based on a monthly survey of some 7,000 firms, climbed to 108.6 in April from 107.9 in March.

That was its highest reading since June 2014 and was slightly higher than the Reuters consensus forecast for a reading of 108.4.