CIVIC LANE
Germany's second-quarter GDP growth was revised upward to 0.3%, while the Ifo business-climate index also jumped to 88.8 in August. The figures suggest that Europe's largest economy may finally be gaining momentum after a long period of weakness. Yet investment, energy costs, infrastructure, public finances and competitiveness remain major concerns. A modest recovery does not tell policymakers which structural problem they should tackle first. That makes economic priorities more interesting to poll than whether one quarterly number is “good” or “bad.”