German data suggest eurozone economy still on upward path

A police boat speeds over the river Main as the sun sets in Frankfurt, Germany, Monday, May 21, 2018.(AP Photo/Michael Probst)

FRANKFURT, Germany — A closely watched survey of German business executives' optimism was unchanged in May after five straight monthly drops, offering a hopeful sign that Europe's economy is still growing strongly.

The Munich-based Ifo institute said Friday its index stayed at 102.2 points, the same as in April.

The 19-country euro currency union has seen a string of less than impressive economic data in the first three months of this year, after finishing 2017 strongly. The question on people's minds is whether it's just a return to more normal levels of growth or signs of an approaching downturn.

Economist Carsten Brzeski at ING Germany said that "after weeks and months of disappointing data from Germany and the entire Eurozone, today's Ifo reading brings some relief."

Must Read

China ambassador urges Australia against 'bias...

Jun 19, 2018

China's ambassador to Australia says the strained diplomatic relationship between the two countries...

Trudeau to visit Trump in Washington on Monday

Feb 10, 2017

Canadian Prime Minister Justin Trudeau will meet with U.S. President Donald Trump in Washington on...

Canada hoping its tariff threat will prompt US...

Jun 2, 2018

Canada's finance minister says he is hopeful the threat of retaliation against U.S. trade measures...

The Latest: WH calls Trump's meetings at G-7...

Jun 9, 2018

The White House says President Donald Trump had positive meetings at the G-7 summit with Canadian...

Canada-US relations at a low after Trudeau-Trump...

Jun 14, 2018

For the first time in decades, one of the world's most durable and amicable alliances faces serious...

About Us

Banking Reporter is the largest-circulated online business news in the United States, bringing a whole new genre of business journalism more up close and more incisive.

Contact us: sales[at]bankingreporter.com

Subscribe Now!