While companies were slightly less content with their current business situation, their outlook for the future improved. The German economy remains in a wait-and-see mode, anticipating further developments.
The current business situation slightly improved to 86.0 in January before dipping to 85.0 in February. Meanwhile, business expectations increased from 84.3 in January to 85.4 in February, indicating cautious optimism for the future, ifo Institute said in a press release.
In manufacturing, the business climate improved. While the current situation was assessed somewhat worse, companies were noticeably less pessimistic about the coming months. The order books have stabilised.
In the service sector, the index fell. Companies were less satisfied with the current situation and expectations also deteriorated slightly. Scepticism increased in transport and logistics.
In trade, the business climate improved due to a more optimistic outlook. Traders in both wholesale and retail also assessed their current economic situation as somewhat better.
ALCHEMPro News Desk (SG)
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