India, Aug. 25 -- Corrects first para
German business sentiment hit the highest level in more than a year in August on expectations that the fiscal stimulus would help to kickstart the economic recovery. The business climate index rose to 89.0 in August from 88.6 in the previous month. This was the highest score since April 2024 and also came in above economists' forecast of 88.6.
"The German economy's recovery remains weak," ifo President Clemens Fuest said.
The improvement was due to the rise in expectations among companies. However, assessment about the current situation weakened slightly.
At 91.6, the expectations index climbed unexpectedly to the highest since February 2022, from 90.8 in July. The score was forecast to drop to 90.2...