Business confidence in Germany exceeded expectations
Ifo business climate index in Germany was 89.4 in April, expectations were for it to be 88.9.
The Economic Research Institute (Ifo), headquartered in Munich, announced the results of the German Business Survey for April, which was conducted with the participation of approximately 9 thousand companies.
Accordingly, business activity in Germany rose to the highest level in a year; This reinforced recent signs that Europe’s largest economy is emerging from two years of trouble.
The expectation indicator prepared by the Ifo institute increased from 87.7 to 89.9 in April compared to the previous month. This beat the median estimate of 88.9 in the Bloomberg survey.
Ifo President Clemens Fuest said, “Sentiment among companies in Germany improved. Companies were more satisfied with their current business. Their prospects also brightened. The economy is stabilizing, especially thanks to service providers.”