India, May 22 -- German business confidence strengthened in May as companies became less concerned about uncertainties regarding trade tariffs, a closely watched survey showed Thursday.
The Purchasing Managers' survey compiled by S&P Global today showed that the German private sector activity contracted the most in five months in May due to a deepening downturn in the service sector. The business climate index rose to 87.5 in May from 86.9 in the previous month. The score was forecast to rise to 87.4.
Companies were less sceptical about expectations. However, current situation was assessed to be somewhat less favorable.
The current situation index dropped to 86.1 from 86.4 in April, while it was forecast to rise to 86.8. By contrast, the...