BERLIN, Aug 25 (Reuters) - German business morale improved unexpectedly in August to its highest level in 15 months, a survey showed on Monday.
The Ifo institute said its business climate index increased to 89.0 in August from 88.6 in July, the highest since May of last year, while analysts polled by Reuters had forecast a reading of 88.6.
The increase was due to improved expectations among companies. However, the current situation was assessed as slightly worse, Ifo said.
"The recovery of the German economy remains weak," Ifo president Clemens Fuest said.
Reporting by Miranda Murray, Editing by Friederike Heine
Source: Reuters