July 25, 2013 / 8:06 AM / 4 years ago

German business morale rises for third month in July

BERLIN, July 25 (Reuters) - German business morale rose slightly more than expected in July, edging up for a third straight month in a sign Europe’s largest economy is gaining traction after a weak start to the year.

The Ifo think tank said its business climate index, based on a monthly survey of some 7,000 firms, rose to 106.2 in July from 105.9 in June.

The reading came in just above the consensus forecast in a Reuters poll of 40 economists for a rise to 106.1.

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