5/23, 10:01 AM (Source: TeleTrader)
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German business climate improves in May - Ifo

The Business Climate Index for Germany stood at 93 in May, representing a monthly increase of 1.1 points, according to a report by the Munich-based Institute for Economic Research (Ifo) published on Monday.

The Current Assessment Index was up 2.2 points on a monthly basis, amounting to 99.5. The Expectations Index advanced 0.1 points compared to April, landing at 86.9.

"The companies were above all much more satisfied with their current business. In contrast, expectations barely changed, with companies remaining skeptical. The German economy has proven itself resilient in the face of inflation concerns, material bottlenecks, and the war in Ukraine. There are currently no observable signs of a recession," Ifo Institute President Clemens Fuest commented in the report.

Baha Breaking News (BBN) / MS