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German ifo Index Sees Strong Recovery in Feb

GERMAN DATA
MNI (London)

IFO BIZ CLIMATE INDEX FEB 98.9; JAN 96.0r

CURRENT ASSESSMENT FEB 98.6; JAN 96.2r

EXPECTATIONS FEB 99.2; JAN 95.8r

  • Economic sentiment in Germany beat consensus forecasts this morning, increasing for the second consecutive month to 98.9 in February and improving 2.9 points on the upwards revised January reading. Expectations were outpaced by 2.5 points.
  • The current assessment of economic conditions rebounded to 98.6, up 2.4 points from upwardly revised January and coming in significantly stronger than the projected moderate improvement to 96.5.
  • Future expectations once again improved, jumping three points above the forecast to 99.2 and strengthening 3.4 points from the upwardly revised January print of 95.8.
  • The upswing was predominantly due to considerable rebounds in manufacturing and services, with strong improvements across all service sectors and manufacturing seeing order books grow despite persistent material shortages remaining.

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