German business confidence strengthened in May as companies became less concerned about uncertainties regarding trade tariffs, a closely watched survey showed Thursday.
The Purchasing Managers' survey compiled by S&P Global today showed that the German private sector activity contracted the most in five months in May due to a deepening downturn in the service sector.
The business climate index rose to 87.5 in May from 86.9 in the previous month. The score was forecast to rise to 87.4.
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by Renju Jaya
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