German Ifo Business Confidence Unexpectedly Strengthens

Germany's business sentiment improved unexpectedly in May as companies were much more satisfied with their current business, while they remained cautious regarding the outlook, survey results from the ifo Institute showed on Monday. The business confidence index rose to 93.0 in May from 91.9 in April, the Munich-based ifo said. The index was forecast to fall to 91.4.

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