Frankfurt, Germany - Germany closely monitored index of business optimism stable which was held in may, a reassuring sign for the largest economy in the euro area in the turbulence of Greece, Portugal and Ireland debt crises.
The Ifo index came to 114.2 Tuesday, unchanged since April after slight cooling of the previous two months. Markets expected 113.7 and the stronger than expected reading sent the euro higher.
The indicator measures how German Executive feel of business on the current state and the future of Europe's largest economy. Germany has benefited from an export surge and improve the consumer demand, while the euro zone struggles to prevent its weakest members on the fringe of the area of the default currency on their debts.
German companies think that export growth will continue to stimulate the economy, the survey showed. Half of the investigation - evaluation of the way things are now - pink and the other half - expectations for the next six months - was down a little, but still positive.
"The economic cycle yet of traffic"green"signal," Institue Ifo head Hans - Werner Sinn, said in a statement.
Manufacturers are slightly less optimistic before "but always assess the current situation as very good business," said Sinn. "They also continue to see great opportunities for export trade." Companies provide clearly increase the workforce, but not at the pace of last month. ?
During this time, the climate for retailers improved, with consumers more willing to spend because the unemployment rate remains relatively low.
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