24.04.201405:27:00UTC+00German Business Confidence Improves Unexpectedly In April

Confidence among German firms improved unexpectedly in April, reports said citing Ifo survey on Thursday.

Business confidence rose to 111.2 in April from 110.7 in March, while it was forecast to fall to 110.4.

The current conditions index, at the same time, improved less than expected to 115.3 from 115.2 in March. The expected score was 115.6.

Expectations among businesses strengthened unexpectedly to 107.3 from 106.4. Economists had forecast the index to fall moderately to 105.8.

ING Bank NV Economist Carsten Brzeski said despite today's surprisingly strong Ifo and the expected growth acceleration of the German economy in the first quarter, it would be foolish to turn a blind eye to possible downside risks for the economy.