Sentiment among German companies improves: ifo business climate index
Sentiment among German companies has improved, according to the ifo business climate index, which rose to 87.5 points in May this year—up from 86.9 points in April. This was due to less skeptical expectations.
However, companies assessed their current business situation as somewhat less favourable.
The recent sharp rise in uncertainty among companies has eased somewhat. The German economy is slowly regaining its footing, Clemens Fuest, president of Munich-based ifo Institute for Economic Research, said in a release.
Sentiment among German firms has improved, according to the ifo business climate index, which rose to 87.5 points in Mayâ€'up from 86.9 in April. This was due to less skeptical expectations. However, firms assessed their current business situation as somewhat less favourable. The recent sharp rise in uncertainty among firms has eased somewhat. The index rose significantly in manufacturing and trade.
The index rose significantly in manufacturing. Companies revised their expectations noticeably upward. They also assessed their current situation as somewhat better. Order intake stabilised. The sentiment in the chemical industry deteriorated slightly.
The transport and logistics sector recovered from the slump in sentiment caused by the customs announcements.
In trade, the index rose noticeably. Expectations in particular rose sharply in both wholesale and retail trade. Traders were also more satisfied with their current situation.
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