Photo by Monika Skolimowska (Scanpix).
German business confidence, having strengthened for the third consecutive month, rose to the highest level in 11 months, although at the beginning of the year it was still at its lowest level in the last three years.
The business confidence index, based on business surveys, published every month by the leading oil economic research institute Ifo in Munich, which is closely monitored, has increased from 87.9 to 89.4 points in recent months.
The growth of the indicator exceeded the forecasts of analysts polled by the agency FactSet, which beat the major average to 88.9 points.
Sentiments in Europe’s largest economy have reached their highest level since May 2023, they are further brightened by the European Central Bank’s expectations of a possible change in interest rates and a gradual weakening of inflationary pressure.
German business sentiment is becoming increasingly optimistic. The economy is stabilizing, Clemens Fuest, president of Ifo, was quoted in the report.
The sub-index for the assessment of the current situation rose from 88.1 to 88.9 points during the month, and the sub-index for the coming months is expected to rise from 87.7 to 89.9 points.
Sentiment improved across all major economic sectors.
Ifo’s regular surveys attract approximately 9,000 company managers from the industry, construction, trade and service sectors.
It is prohibited to reproduce the information of the news agency BNS in public information media and on Internet websites without the consent of UAB “BNS”.
Select the companies and topics you are interested in and we will inform you in a personal newsletter as soon as they are mentioned in Business, Sodra, Registry Center, etc. in altos.
Topic Markets
Tags: German business confidence strengthened consecutive month
