The Ifo Institute said its business climate index rose to 95.0 in July from 93.3 in June. Economists polled by AFX News had forecast 94.0. The July business assessment index rose to 94.9 from 93.7 in June, while the business expectations index grew to 95.0 from 92.9. IFO president Hans-Werner Sinn said that the index showed that the companies polled see a significantly better outlook for the next six months. This is in contrast to his comments one month ago, when he said the results did not indicate an economic recovery in the coming months. In the manufacturing industry and in wholesaling the business climate index improved significantly compared to June, pulled by notably improved expectations. On the other hand, export expectations were only slightly better in the construction business. Retail was the only industry in which the business climate index worsened. Sinn added that the business climate index rise was less pronounced in eastern Germany