German business morale improved in March and beat expectations, a survey showed on Friday, though probably not enough to prevent Europe's biggest economy from slipping into another recession. The Ifo institute said its business climate index stood at 87.8 compared with a reading of 86.0 forecast by analysts in a Reuters poll. "The German economy glimpses light on the horizon," said Ifo president Clemens Fuest. Companies' expectations turned much less pessimistic in March and assessments of the current business situation also improved, the survey showed. "The strong gain in the Ifo business climate gives us hope," ... (full story)