German Firms' Mood Little Changed Despite Signs of Green Shoots

Sentiment Among German Businesses Remains Unchanged in May #

The sentiment among German businesses did not improve this month, according to a survey. The Ifo business-climate index stayed steady at 89.3 in May, defying expectations for an uptick in the survey. However, firms expressed a more optimistic outlook for the months ahead. Economists polled had anticipated a positive change in the index, but the data showed that the level remained the same as in April.