German business morale unexpectedly rose in May, a survey showed on Friday, offering a glimmer of hope for Europe's largest economy. The Ifo institute ​said its business climate index increased to 84.9 compared to a revised 84.5 in April. Analysts polled by Reuters had forecast a decrease to 84.2. "Following the ⁠slump in March and April, business sentiment in Germany has recovered slightly," ⁠Ifo President Clemens Fuest said. Germany's economy has struggled to regain momentum since the pandemic, as ​rising competition ​from China and ​higher energy prices have strained its export-driven model. The surge in energy ... (full story)