German business morale rebounds; state spending key to recovery
BERLIN (Reuters) - The German economy is starting to recover as curbs to slow the coronavirus are lifted, a business morale survey showed on Monday, and separate output data pointed to the importance of government spending to support the recovery.
Business morale in Europe’s largest economy rebounded in May, the Ifo economic institute said, recovering from its worst decline on record in April as a reopening of the economy boosted expectations among companies.