GERMAN BUSINESS CONFIDENCE CLIMBS TO NEAR SIX-YEAR HIGH

Berlin, – German business confidence climbed to nearly a six-year high in April amid growing optimism across the nation’s boardrooms about the outlook for Europe’s biggest economy, dpa cited a key indicator released on Monday.

The Munich-based Ifo economic institute said its closely watched business confidence index rose for the third consecutive month in April to a stronger-than-forecast 112.9 points from 112.4 in March.

“The German economy is growing strongly,” Ifo chief Clemens Fuest said on releasing the indicator, which is based on a survey of about 7,000 executives.

The Ifo indicator now stands at its highest level since July 2011 after beating analysts’ forecasts that the index would remain unchanged in April.

But while the business leaders’ assessment of their current economic situation rose, their expectations for six months down the track edged down from a reading of 105.7 in March to 105.2 this month.

At the same time, assessments of current business conditions rose to 121.1 from 119.5.(QNA)

Source: Qatar News Agency