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Germany's investor confidence rebounded at record rate in June as lockdown restrictions imposed to slow the spread of the coronavirus were eased across Europe, survey data from the ifo institute showed on Wednesday. The ifo business climate index rose to 86.2 points from 79.7 points in May, revised from 79.5. Economists had forecast a score of 85. This is the strongest increase ever recorded, the think tank said. The index rose for a second straight month.
"German business sees light at the end of the tunnel," ifo President Clemens Fuest said. The current conditions index climbed to 81.3 from 78.9 in May. Economists had expected a score of 84. The expectations measure rose to 91.4 from 80.5 in May, revised from 80.1. Economists were looking for a reading of 87. Improvement in morale was witnessed in almost all economic sectors with expectations rising at the strongest rate ever in manufacturing.
