German business confidence has risen for a second consecutive month, but signs are growing that the country's industry is no longer quite as optimistic about its outlook as it was just a month ago, dpa reported.
The Munich-based Ifo economic institute said Friday that its closely watched business climate index jumped to a more-than-forecast 108.6 for April, from 107.9 in March. Analysts had forecast an increase to 108.4.
'Assessments of the current business situation once again improved considerably. Optimistic assessments of the business outlook, however, were scaled back slightly. The upswing in the German economy continues,' Ifo's president, Hans-Werner Sinn, said in a statement.
Based on a monthly survey of about 7,000 companies, the Ifo index now stands at its highest level since June 2014.