Is this already the economic turnaround? The Ifo business climate index is rising for the third time in a row. Market expectations were even exceeded.
The mood in the German economy improved again in April. The Ifo business climate rose by 1.5 index points to 89.4 points compared to the previous month, as the Ifo Institute in Munich announced. It is the third increase in the value of the important economic barometer in a row. After such a series, economists often speak of an economic turnaround for the better. Other leading indicators have also recently surprised positively.
Market expectations were exceeded. Analysts had expected an average of 88.8 points. The approximately 9,000 companies surveyed rated both the prospects for their future business and the current situation better than in the previous month. “The economy is stabilizing, especially thanks to service providers,” commented Ifo President Clemens Fuest. The business climate brightened in all economic sectors examined.
Source: Stern
