BERLIN, May 23 (Xinhua) -- German business confidence soared to a record high in May, economic think-tank Ifo said Tuesday in a statement.
The Munich-based Ifo institute reported the German business climate index jumped to a seasonally adjusted 114.6 this month from a reading of 113.0 in April, beating forecasts and hitting an all-time high. It suggested the European largest economy gained further momentum.
The current assessment index increased to 123.2 in May, against a reading of 121.4 a month earlier.
The business expectations index, which measures attitudes toward business prospects over the next six months, rose to 106.5 in May from 105.2 last month.
The sub-indices in manufacturing, construction and wholesale business rose. But retailers made "slight downward adjustments".
The monthly index is based on a survey of around 7,000 German company leaders in the manufacturing, construction, wholesale and retail sectors.
