Entrepreneurs' sentiment unexpectedly improved in Germany

The mood of entrepreneurs in Germany unexpectedly improved and rose to the highest level in the last fifteen months. This was reported by Zamin.uz.

The Ifo Institute announced the results of a survey conducted in August. The report noted that the business climate index increased from 88.6 in July to 89.0.

Experts had previously predicted a decline. Nevertheless, the economic recovery is progressing very slowly.

According to Ifo President Clemens Fuest, the overall economic situation is still not positive. While the German economy contracted by 0.3 percent in the second quarter, only a 0.1 percent growth is expected in the third quarter.

Previous forecasts for exports have also slightly decreased. Experts emphasize that government infrastructure projects and the European Central Bank's interest rate cuts will help the gradual recovery of economic activity.

Thus, the German economy is slowly reviving, but significant problems still remain.