Mumbai, June 24 -- German business confidence rose to the highest level in 13 months in June driven by improving hopes that fiscal measures will underpin economic recovery, a closely watched survey showed on Tuesday.

The business climate index registered 88.4 in June, up from 87.5 in May, the Munich-based ifo Institute revealed. This was the highest level since May 2024, when the reading was 88.9. The score was forecast to improve to 88.1.

The German economy is slowly building confidence, the institute said.

The current situation index rose only marginally to 86.2 from 86.1 in the previous month. The index was seen rising to 86.5.

The expectations index advanced to 90.7 from 89.0 in May. The score was forecast to climb moderately to 90....