Germany’s Business Outlook Improves Despite Iran Uncertainty

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Or sign-in if you have an account.mtl]u6whq2av0b1x[iex]sk9_media_dl_1.png Ifo Institute(Bloomberg) — Germany’s business outlook brightened for a third month, a sign of resilience to higher energy prices and geopolitical uncertainty.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountAn expectations index by the Ifo institute rose to 86.7 from a revised 84.3 the previous month. That’s higher than anticipated by anyone in a Bloomberg economist survey, which had a median estimate of 84.8. A gauge measuring current conditions unexpectedly retreated.“Despite the uncertain situation in the Persian Gulf, the German economy is showing less pessimism,” Ifo President Clemens Fuest said.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againThe data come in a month that saw Germany’s government announcing reforms aimed at spurring economic growth. While those measures were well received, renewed hostilities in the Middle East and a surge in energy prices have since weighed on sentiment.Europe’s biggest economy is currently showing signs of stabilizing. July readings for PMIs and investor sentiment both surprised to the upside and the Economy Ministry said in its monthly report that recent data point to a recovery in the second half.Still, the situation in the Gulf region continues to pose a significant risk to Germany’s export-oriented economy. Second-quarter output numbers due Thursday will probably show a slowdown to just 0.1% growth in the period.German car manufacturers are another source of concern. The country’s automakers are rapidly losing market share in China, an important export market. Just last week, Volkswagen AG warned that sales may fall further and now sees its revenue decline as much as 3% this year. The company has also floated eliminating as many as 50,000 more jobs globally.—With assistance from Kristian Siedenburg, Harumi Ichikura and Joel Rinneby.This advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.