German business confidence hits record high in July
Euphoric all-time high in July
Frankfurt am Main - Egypt Today
Confidence among German business leaders hit a "euphoric" all-time high in July, the Munich-based Ifo institute said, beating analysts' expectations of a small decline.
The survey-based index, closely watched by economic observers as an indicator of future performance in Europe's largest economy, rose to 116.0 points after a reading of 115.1 in June. Analysts surveyed by data company Factset had predicted a slip in the barometer this month.
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