German Business Climate Rebounds Slightly in April

Source: Ifo

German business climate posted a slight rebound in April, with firms less pessimistic about the coming months. EWG is down 0.96%, while DAX is up 1.77% premarket.

• The German business climate index stood at 91.8 in April, up from 90.8 in March but still lower than the 96.4 recorded in the same month last year.
• The indicator for the current situation posted slight growth to 97.2 from 97.1 the previous month and higher than the 94.2 recorded in April 2021.
• The expectations indicator posted faster growth to 86.7 from 84.9 in March but remained below the 98.9 seen in the same month last year.
• Manufacturing declined by 1.0%, following the 3.6% drop in March and the 25.0% growth the previous year.
• Services jumped by 5.4%, faster than 0.8% in March and 3.4% in the same month in 2021.
• Trade contracted by 13.3%, marking the second straight month of declines after -12.0% in March and the -0.5% the same month last year.
• Construction plunged by 20.0% after the 12.3% decline in March. The sector grew by 3.1% in April 2021.