Confidence in the economy increased in Germany

The Ifo index, which reflects the confidence of the business world in the economy in Germany, exceeded expectations with 91.8 in April. Economists surveyed by Reuters had forecast the data to be at 89.1.

The Ifo index was announced as 90.8 in March.

What is the ifo index
The Information and Forschung (Ifo) Business Environment Index determines the status of firms based on their forecasts for manufacturing, construction, wholesale and retail sales and the next six months.