German business morale saw an unexpected rise in April, as indicated by a survey released on Wednesday.
The Ifo institute, a leading economic research center in Germany, reported that its business climate index increased to 86.9 in April, up from 86.7 in March.
Analysts had previously predicted a drop in the index, forecasting a reading of 85.2 for April.
The actual increase in the business climate index contradicts these predictions, showing an unexpected improvement in German business morale.
