Germany Ifo Business Climate rose form 91.1 to 93.3 in March, above expectation of 92.0. That’s also the fifth consecutive rise. Current Assessment index rose from 93.9 to 95.4, above expectation of 94.0. Expectations index rose from 88.4 to 91.2, above expectation of 87.4.
By sector, manufacturing rose from 1.5 to 6.6. Services rose from 1.3 to 8.9. Trade ticked up from -10.6 to -10.0. Construction also improved from -19.0 to -17.9.
Ifo said, the upward development in business climate was “driven primarily by business expectations”. “Despite turbulence at some international banks, the German economy is stabilizing,” it added.
