German business confidence in the nation’s economic prospects increased in February for the third successive month, reports the influential Ifo economic institute.
Ifo’s monthly survey, published Tuesday, records a rise of more than two points in its master index to 88.7, thanks to a five-point leap that propelled its ‘expectations’ index to 101 points.
Conversely, however, German businesses took a gloomier view of extant circumstances with the relevant index falling from 78 to 76.8. “The current situation is still evaluated worse than before September 11,” observed Ifo.
Overall, the Ifo data – which normally leads the trend in Europe’s largest economy by a few months – is seen as a further indication that Germany is on the cusp of an economic turnround.
Data sourced from: Wall Street Journal; additional content by WARC staff