German Business Confidence Rises Slightly in June

Germany’s Ifo index of business sentiment rose slightly in June, raising hopes that the eurozone’s largest economy is returning to stronger growth.

The index rose to 105.9, up from 105.7 the month before.

Germany’s economy shrank by 0.7% in the final quarter of 2012, and grew just 0.1% in the first quarter of 2013.

But the Organisation for Economic Co-operation and Development is forecasting 0.4% growth for the year.

Germany’s Ifo think tank calculates its headline index by taking into account companies’ current view of the business climate and their outlook for the next six months.

Signs of increasing confidence reduce fears that the German economy may slip back into negative territory.

via BBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency
trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza