Ifo economist says export hopes drive rise in business mood

MUNICH, June 24 Mon Jun 24, 2013 4:34am EDT

MUNICH, June 24 (Reuters) - Improved export expectations, particularly in the auto industry, drove the rise in Germany's business climate index in June, Ifo economist Klaus Wohlrabe told Reuters on Monday.

Wohlrabe said Europe's largest economy would likely grow significantly more in the second quarter than in the first, and the worst floods in Germany in a decade would impact the economy both negatively and positively in coming quarters.

"The German industry is pinning strong hopes on exports," the economist said.

It was yet to be seen whether the latest European Central Bank and Federal Reserve policy decisions and comments would impact the real economy, Wohlrabe said.

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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