Germany Ifo business climate rose to 99.2 in May, up from 96.8, above expectation of 98.1. That’s the highest level since May 2019. Current assessment index rose to 95.7, up from 94.1, above expectation of 95.5. Expectations index rose to 102.9, up from 99.5, above expectation of 101.0.
Looking at different sectors, manufacturing rose from 25.1 to 25.7. Services rose from 3.5 to 13.7. Trade rose from -0.5 to 8.4. Construction rose from 0.7 to 2.8.
Ifo said: “Companies were more satisfied with their current business situation. They are also more optimistic regarding the coming months. The German economy is picking up speed.”
