Germany: Business confidence in April rises to 10-month high
April 24, 2015
The business confidence index, elaborated by the Ifo Institute, rose from 107.9 in March to 108.6 in April and came in above market expectations of an increase to 108.4. The index improved in April for a sixth consecutive month and now sits at the highest level since June 2014.
According to the Institute, April’s print reflects that firms were more positive regarding their current economic situations. However, they were slightly less optimistic about future business development than in the previous month. Business climate rose in the manufacturing, wholesaling and construction sectors but worsened in retailing. Overall, the Ifo Institute commented that the reading suggests that, “[t]he upswing in the German economy continues.”