German business confidence up unexpectedly in May: Ifo

Published May 24, 2013 Updated May 24, 2013 08:07am

1 min

By Parvez Jabri

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FRANKFURT: German business confidence rose unexpectedly in May, data showed on Friday, as businesses in Europe's top economy express satisfaction with their situation and become more optimistic about the future.

The Ifo economic institute's closely watched business climate index rose to 105.7 points in May from 104.4 points in April. Analysts had been expecting an unchanged reading this month.

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