The confidence of German companies is rising more than expected

The German business confidence index rose to 93 points in May, beating expectations at 91.4.

For its part, the Ifo Institute, which publishes it studio business confidence index monthly, stressed that the German economy is currently showing no signs of recession.

The studio indicated that the economy has shown its resilience.

The euro exchange rate rose against the dollar at the start of trading the week after this data was released.

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