Germany Ifo Business Climate rose to 86.2, up from 79.7, above expectation of 85.0. The 6.5 pts rise is the strongest increase ever recorded. Current Assessment index rose to 81.3, up from 78.9, but missed expectation of 84.0. Expectations index rose to 91.4, up from 80.5, above expectation of 85.2. Ifo said, “German business sees light at the end of the tunnel.”
Indices of all sectors improved but stayed negative. Manufacturing index rose from -36.0 to -22.9. Services index rose fro -21.0 to -6.0. Trade index rose from -30.5 to -14.2. Construction index rose from -12.3 to -7.5.
