Germany’s Ifo business climate rises to 89.4 and the economy stabilizes thanks to service providers

The German Ifo business climate rose from 87.8 to 89.4 in April, above expectations of 88.5. The Current Assessment Index rose from 88.1 to 88.9, above expectations of 88.7. The expectations index also improved from 87.5 to 89.9, above expectations of 88.9.

Per sector, production increased from -9.9 to -8.5. Services increased from 0.4 to 3.2. Trading rose from -22.9 to -22.0. Construction increased from -33.2 to -28.5.

As said: “Companies were more satisfied with their current activities. Their expectations also became clearer. The economy is stabilizing, mainly thanks to service providers.”

Full German Ifo release here.