Germany Ifo business climate rose to 101.8 in June, up from 99.2, above expectation of 100.4. That’s also the highest level since end of 2018. Current assessment index rose to 99.6, up from 95.7, above expectation of 97.8. Expectations index rose to 104.0, up from 102.9, above expectation of 103.5.
Looking at some more details, manufacturing index rose from 25.7 to 28.5, highest since April 2018. Services sector index rose from 13.7 to 22.4. Trade index rose from 8.5 to 17.8. Construction index rose from 3.0 to 4.2.
Ifo said: “Companies assessed their current business situation as much better. Optimism regarding the second half of the year also grew. The German economy is shaking off the coronavirus crisis.”
