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Tuesday, March 21, 2023

Economy: Ifo business climate brightens for the fourth month in a row

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Improved mood in the German economy – for the fourth time in a row. Many companies are confident, especially when it comes to the future.

The mood in the German economy continued to improve in February. The Ifo business climate rose by one point to 91.1 points compared to the previous month, as the economic research institute announced. It is the fourth increase in the most important German economic barometer in a row. Bank economists had expected an index value of 91.2 points.

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In the survey of around 9,000 companies, the companies assessed their future prospects as better and their current situation as worse than at the beginning of the year. However, the index value for expectations is still well below the value for assessing the current situation. “The German economy is gradually working its way out of its weak phase,” commented Ifo President Clemens Fuest.

Source: Stern

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