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

Huawei executive warns Australia risks economy...

Jun 27, 2018

A Huawei executive says Australia could damage its economic future if it bans the Chinese...

Canada determined to diversify despite Keystone...

Mar 25, 2017

Canada's natural resource minister says his government is happy the Keystone XL pipeline has...

Issues remain as 3rd round of NAFTA talks wraps...

Sep 27, 2017

Contentious issues remain in NAFTA renegotiations as the U.S., Canada and Mexico conclude a third...

Trudeau: Canada to legalize marijuana on Oct. 17

Jun 21, 2018

Canadian Prime Minister Justin Trudeau says marijuana will be legal nationwide starting Oct. 17 in...

Burkinis, economy top items in French...

Aug 28, 2016

The national identity crisis exposed by France's burkini controversy is threatening to set the tone...

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!