Germany's Ifo index posted a surprise rise today, suggesting investors are still positive about prospects for Europe's top economy despite the Greek debt crisis and worries over US growth.
The monthly Ifo business climate rose in June, its first increase since February, to 114.5 points from 114.2 points in May, beating expectations of 113.5 points, according to a poll of economists.
'The German economy is experiencing a robust upswing. The business climate in manufacturing continues to be good,' the Ifo institute said.
The closely-watched index is based on a survey of around 7,000 firms in manufacturing, construction, wholesaling and retail.
Earlier this week, the ZEW survey fell sharply on worries about the euro zone debt crisis and growth prospects for the US.
