Ifo: German business climate improves in January

German Business Climate Index stood at 90.2 in January, rising 1.6 points from December's figure of 88.6, but slightly below expectations, the Institute for Economic Research (Ifo) stated in its report on Wednesday.

The Current Assessment Index in January landed at 94.1, going down 0.3 points on a monthly basis. Meanwhile, the Expectations Index reached 86.4, up 3.2 points compared to December.

"Probably won't be a recession, but GDP will probably shrink slightly in Q1 - mainly due to consumption," said the institute's Economist Klaus Wohlrabe, while stressing that "the German economy is starting the year with cautious optimism."

Baha Breaking News (BBN) / JG