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Ifo index increases: the mood in the economy is improving

2022-12-19T09:53:42.214Z


The Ifo Institute's business climate index has risen for the third month in a row. According to the Munich economists, the German economy draws hope at Christmas.


The mood in the executive floors of German companies brightened in December for the third month in a row.

The Ifo business climate index rose to 88.6 points from the revised 86.4 points in the previous month, as the Munich Ifo Institute announced on Monday in its survey of around 9,000 executives.

Economists surveyed by the Reuters news agency had only expected 87.4 points.

Companies were more satisfied with current business: this situation indicator had previously fallen six times in a row.

Expectations also improved noticeably.

"The German economy draws hope at Christmas," said Ifo President Clemens Fuest.

The mood brightened in each of the sectors under review, only in construction did the business climate deteriorate.

From spring to late summer, economic sentiment had mostly fallen.

The triggers were the Russian war of aggression against Ukraine and the resulting sharp rise in energy prices.

The latest survey data from the financial services provider S&P Global confirm the upward trend, according to which the downward slide in the German economy slowed down significantly towards the end of the year.

At 48.9 points, the purchasing managers' index for the private sector moved closer to the growth threshold of 50 points and reached its highest level in six months.

The Ifo Institute expects gross domestic product to shrink by a minimum of 0.1 percent next year.

Source: faz

All news articles on 2022-12-19

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