Germany Ifo Business Climate rose to 92.4 in February, up from 90.3, above expectation of 90.5. Current Assessment index rose to 90.6, up from 89.2, above expectation of 88.9. Expectations index rose to 94.2, up from 91.5, above expectation of 91.9.
Looking at some details, manufacturing index rose from 9.1 to 16.1, highest since November 2018. Services rose from -4.4 to -2.2. Trade rose from -17.2 to -14.6. Construction rose from -4.9 to -3.6.
Clemens Fuest, President of the ifo Institute, said “the German economy is proving robust despite the lockdown, especially thanks to strength in industry.”
