German business confidence picks up

Beijing time May 25 Evening News, German business confidence rebounded for the second consecutive month in May, the government's interest rate cut and stimulus spending boosted confidence, and it is expected that the worst recession since the Second World War will moderate during the year. The April business climate index rose to 84.2 from 83.7 last month, according to a survey of 7,000 executives, the German Economic Research Institute in Munich (IFO Institute) said. The median estimate for 39 economists was 85, according to a Bloomberg survey.　　The index fell to a 26-year low of 82.2 in March. German Chancellor Angela Merkel is trying to bring the German economy out of recession through a spending plan that costs about € 82 billion (115 billion dollars).　　Although the government expects the economy to shrink by 6% in 2009, Excel Weber, the Bundesbank's governor, said there was "reason" to hope for a recovery in the economy during the year Axel. "Although the Ifo index has risen less than expected, it has sent positive messages," said Ralph Solvin, head of economic research at Commerzbank, Ralph Solveen. The trough has passed, but we will not see a strong recovery. ”