German business sentiment improved more than expected

The business sentiment index of the Munich-based ifo Institute for Economic Research improved more than expected in August, despite the rise of protectionist aspirations and import duties.

The Ifo Institute for Economics Institute (ifo Institut – Leibniz-Institut für Wirtschaftsforschung an der Universität München e. V.) announced on Monday that the German business mood index increased to 103.8 points in August from the 101.7 points of July. Analysts expected a modest improvement of 101.9 points. (MTI)