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2017.04.2405:36:00UTC+00German Business Morale Touches Highest Reading Since July 2011

German business confidence reached its highest reading since July 2011, indicating that the economy is poised to maintain its ground.

Ifo reported its index trailing business confidence surged to 112.9 in April. For Ifo chief Clemens Fuest, the German economy is expanding robustly.

It added the economic situations in the European nation improved to 121.1 this month from 119.5. Conversely, a barometer of expectations tumbled to 105.2, previously 105.7.

The report comes following the production in the private-sector dwindled more than projected this month despite a subdued growth in the service sector.

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