German business sentiment rises as pandemic ebbs – KIRO 7 News Seattle

BERLIN – (AP) – Germany’s companies are more optimistic than they have been for almost three years, as a closely monitored survey by the Munich Ifo Institute published on Thursday shows.

The mood among German managers rose to 101.8 points in June, from 99.2 in May to the highest level since November 2018. The positive mood was boosted by, among other things, declining coronavirus infections and the reopening of large parts of the economy.

Analysts had expected a more moderate increase in optimism from the monthly survey of around 9,000 companies.

One concern expressed by manufacturing companies has been the persistent supply shortages. German car manufacturers were also affected by a shortage of semiconductors, which led to delivery delays for new vehicles.

Copyright 2021 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed in any way without permission.