German business sentiment brightens in February, finds Ifo By Reuters

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German business sentiment brightens in February, finds Ifo By Reuters


© Reuters. FILE PHOTO: A general view shows the Berlin skyline, Germany, December 26, 2020. REUTERS/Michele Tantussi/File Photo

BERLIN (Reuters) – German business morale brightened in February, in line with analysts’ expectations, a survey showed on Friday.

The Ifo institute said its business climate index stood at 85.5, as forecast by analysts in a Reuters poll.

The overall rise was due to slightly less pessimistic expectations, with the corresponding index rising to 84.1 in February from 83.5, largely in line with forecasts for 84.0.

“The German economy is stabilizing at a low level,” said Ifo president Clemens Fuest.

Europe’s largest economy shrank by 0.3% in 2023, making it the world’s worst performing major economy.

It is broadly expected to enter another technical recession in the first quarter of this year, after shrinking by 0.3% in the final quarter of last year, the federal statistics office said on Friday, confirming an initial estimate.



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