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MNI BRIEF: Ifo German Business Climate at Near 2-1/2 Year High

MNI (London)
LONDON (MNI)

Germany's manufacturing sector sentiment picked up sharply in February, according to the Ifo Institute, with "the economy proving robust despite the lockdown, especially thanks to strength in industry." The current business climate in the manufacturing sector surged to the highest level since November 2018 with both current conditions and expectations rising.

The hospitality industry is still struggling with tight restrictions, but the travel industry saw the "first signs of optimism ahead of the vacation season."

The Ifo business climate indicator ticked up in February to 92.4, beating market expectations, hitting the highest level since October. Current conditions improved as well by 1.4 points to 90.6, in contrast to markets looking for an downtick. The Ifo Expectations index increased 2.7 points to 94.2 coming in stronger than expected.

MNI London Bureau | +44 203-865-3814 | irene.prihoda@marketnews.com
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MNI London Bureau | +44 203-865-3814 | irene.prihoda@marketnews.com
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