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German Growth Robust Despite Drop In Confidence Index

Business confidence in Germany fell more than expected in July but growth remained robust, the Ifo economic research institute said on July 26. The closely watched index of the business climate in Germany, the biggest economy in Europe, dipped to 105.6 points.

The Ifo index had hit 106.8 in June, its highest level since February 1991 when the German economy was buoyed by the reunification of the country.

Ifo head Gebhard Flaig said that while the index had fallen it remained at a consistently high level, suggesting that economic growth was sustained. "Economic growth remains on an upward curve," he said.

Ifo polls around 7,000 companies for its monthly survey, asking bosses their views on current business and their expectations for the next six months.

Copyright Agence France-Presse, 2006

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