German business sentiment rises as pandemic ebbs

A closely-watched survey by Munich’s Ifo institute shows Germany’s businesses are more optimistic than they’ve been in almost three years

BERLIN -- Germany's businesses are more optimistic than they've been in almost three years, according to a closely watched survey by Munich's Ifo institute released Thursday.

Analysts had expected a more moderate increase in optimism from the questionnaire of about 9,000 businesses conducted every month.

One concern raised by manufacturing companies was ongoing supply shortages. German automakers have been among those hit by a lack of semiconductors, resulting in delivery delays for new cars.