Germany's business confidence strengthened more-than-expected in February as the manufacturing activity remained robust despite the lockdown, survey results from ifo Institute revealed on Monday.
The business confidence index rose to 92.4 from revised 90.3 in the previous month. This was better than the economists' forecast of 90.5.
The increase in the Ifo Business Climate Index in February suggests that the German economy is weathering the lockdown better than anticipated, Andrew Kenningham, an economist at Capital Economics, said.
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