In manufacturing, the index has fallen slightly. The expectations weakened again somewhat, but the assessments of the current situation have been revised upwards. Demand and order backlogs increased. In the services, the business climate has improved. The service providers are noticeably more optimistic with regard to the coming months. However, they are less satisfied with their current business situation.
Declining Trend in the ifo Business Climate Stopped
The declining trend in the ifo Business Climate has stopped. The index held steady at 102.2 points (The April value was seasonally corrected.), after having fallen five months in succession. The very good current business situation improved slightly, but the optimistic expectations weakened slightly. The German economy is performing well in a difficult international situation. The current business survey and other indicators point to economic growth of 0.4 percent in the second quarter.
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