Investing.com - German business confidence grew inMay, according to survey data released on Friday.
The Munich-based Ifo economic institute said its business climate index, based on a monthly survey of companies, rose to 102.2 from 102.1 inMay.
The reading was worse than economists’ expectations for 102.7.
The current assessment index rose to 106.0 in May, in line with consensus.
The previous month’s reading was revised to 105.8 from the initial 105.7.
The business expectations index, which measures attitudes toward business prospects over the next six months, decreased to 98.5 this month from the reading of 98.7 in April.
That missed estimates for the reading to decline to increase to 99.5.
The monthly index is based on a survey of around 7,000 German firms in the manufacturing, construction, wholesale and retail sectors.