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June 24, 2011

The closely-watched index of German business confidence rose unexpectedly in June, contrary to experts' predications that it would fall. This indicates Germany is weathering the eurozone debt crisis well.

https://p.dw.com/p/11iax
Sailboats on the water
Germany is cruising through the eurozone crisisImage: dpa

Contrary to analysts' expectations, Germany's leading business confidence index rose in June.

The index, which is released monthly by the Ifo institute in Munich, indicated an increase to 114.5 points, from 114.2 last month.

The index is compiled from surveys of 7,000 executives, and a drop to 113.5 was anticipated due to the eurozone debt crisis.

However, the rising numbers indicate Germany is weathering the crisis well and does not seem to be fazed by slow global growth.

"The German economy is going through a strong upswing," said Hans-Werner Sinn, Ifo president, in a statement.

Author: Matt Zuvela (dpa, Reuters)
Editor: Martin Kuebler

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