Sentiment among German companies improves: ifo business climate index

However, companies assessed their current business situation as somewhat less favourable.

The recent sharp rise in uncertainty among companies has eased somewhat. The German economy is slowly regaining its footing, Clemens Fuest, president of Munich-based ifo Institute for Economic Research, said in a release.

The index rose significantly in manufacturing. Companies revised their expectations noticeably upward. They also assessed their current situation as somewhat better. Order intake stabilised. The sentiment in the chemical industry deteriorated slightly.

The transport and logistics sector recovered from the slump in sentiment caused by the customs announcements.

In trade, the index rose noticeably. Expectations in particular rose sharply in both wholesale and retail trade. Traders were also more satisfied with their current situation.

ALCHEMPro News Desk (DS)