Investing.com - German business confidence improved to an all-time high in July, breaking the previous month's record and boosting the outlook for the euro area's largest economy, according to data released on Tuesday.
The Munich-based Ifo institute said its business climate index rose to 116.0 this month from 115.2 in June.
Economists had expected a reading of 114.9.
The current assessment index increased to 125.4 from 124.2 a month earlier, against expectations for a slight decline to 123.8. it was the highest reading since Germany's reunification.
The business expectations index, which measures attitudes toward business prospects over the next six months, climbed to 107.3 this month from 106.8 in June, compared to estimates for a reading of 106.5.
The monthly index is based on a survey of around 7,000 German firms in the manufacturing, construction, wholesale and retail sectors.