Ekonomické zprávy

The German business climate index rose moderately in February - IFO

The ifo Institute's survey showed that sentiment among the German companies improved again in February, adding to signs that the economy is recovering despite the energy crisis and high inflation.

According to the report, the ifo Business Climate Index increased to 91.1 from 90.1 in January (revised from 90.2). That was the fifth consecutive month of increase and the highest level since June 2022. However, business confidence remains at a very subdued level by historical standards. Experts expected the index to rise to 91.2.

The details of the report showed that the current situation sub-index dropped to 93.9 this month from 94.1 in January. Economists had expected an increase to 95.0. Meanwhile, the gauge measuring companies' expectations for the coming months rose to 88.5 from 86.4 in the previous month. Consensus estimates suggested an increase to 88.4.

Commenting on the data, the Ifo's Economist Klaus Wohlrabe said that the German economy will not get around recession but it will be mild. He added that 45.4% of companies complained about supply chain bottlenecks in February (compared to 48.4% in January).

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