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MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
GERMAN DATA
MNI (London)
GERMANY APR IFO BUSINESS CLIMATE 93.6 (FCST 93.4); MAR 93.2r
- German business sentiment edged up for a sixth consecutive month in April, rising 0.3 points to 93.6 in the IFO Survey, boosted by improved expectations (up 1.2 points at 92.2).
- This was slightly stronger than consensus expectations. Easing energy prices, cooling CPI and less-bleak global demand outlooks likely accounted for the increase, whilst the IFO Current Conditions index eased by 0.4 points to 95.0.
- Manufacturing sentiment inched up in April, as expectations of future conditions rose considerably, outpacing worsening current conditions assessments.
- However, with the German manufacturing PMI slipping further into contractionary territory and ZEW expectations taking a substantial hit in April, growth outlooks may be more stagnant.
- Construction sentiment also improved, becoming less negative albeit the assessment of current conditions sinking to the lowest since 2015.
- Retail trade and services sector sentiment cooled somewhat as future outlooks weakened.
- Flash German GDP data is due on Friday. Consensus is looking for a small rebound at +0.2% q/q in Q1, which would also imply a technical recession had been avoided. Expectations remain divergent, with IFO’s Spring forecast pencilling in a -0.2% q/q decline.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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