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.
German business confidence rose in April, as assessments of the current business situation improved, but optimism over the coming six months eased, as "the third wave of infections and bottlenecks in intermediate products are impeding Germany's economic recovery," the Ifo Institute said Monday.
Manufacturing sentiment rose to the highest level since May 2018 with firm's opinion about the current situation improving markedly. While capacity utilization increased above the long-term average for the first time in 2 years, optimism decreased as "45% of companies reported bottlenecks in intermediate products – the highest value since 1991." Business climate in the construction sector dipped as many firms reported material shortages.
Service sector business climate eased in April, as industries such as hospitality and tourism are still suffering. Meanwhile, business sentiment in trade ticked up slightly, despite a fall in optimism. The Ifo business climate indicator edged up in April to 96.8, although falling short of market expectations looking for an uptick to 101.0. Current conditions rose 1pt to 94.1, while the Ifo Expectations index ticked down 0.8pt to 99.5, in contrast to markets projecting an increase.
Source: Ifo Institute
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.