2020.05.2512:20:00UTC+00Amended: German Ifo Business Confidence Improves More Than Expected

Corrects the first sentence in the third paragraph to reflect the fall in the current conditions measure.

Germany's business confidence improved slightly more than expected in May, as European countries partly began to withdraw lockdown restrictions that were imposed to slow the spread of the coronavirus, or Covid-19, reports said Monday, citing survey data from the think tank ifo.

The ifo business confidence index climbed to 79.5 from 74.2 in April, which was revised from 74.3. Economists had forecast a score of 78.3.

The current conditions index fell to 78.9 from 79.4 in April, which was revised from 79.5. Economists had expected a reading of 80.

The expectations measure jumped to 80.1 from 69.4 in April. Economists had expected a reading of 75.