Germany Ifo Business Climate rose to 96.6 in March, up from 92.7, above expectation of 93.0. That’s also the highest level since June 2019. Current Assessment index rose to 93.0, up from 90.6, above expectation of 92.4. Expectations index also rose to 100.4, up from 94.2, above expectation of 95.0.
By sector, manufacturing rose from 16.4 to 24.1, highest since November 2010. Service rose from -2.2 to 6.5. Trade rose from -14.6 to -1.4. Construction rose from -2.8 to 2.3.
Clemens Fuest, President of the ifo Institute, said: “Companies were clearly more satisfied with their current business situation. Optimism about the coming months has also returned. Despite the rising rate of infections, the German economy is entering the spring with confidence.”