German Businesses Open 2022 With More Optimism

Source: ifo institute

German business sentiment rebounded in January after contracting for three straight months, as supply chain issues eased during the month. EWG is flat premarket.

• The ifo Business Climate Index stood at 95.7 in January, up from 94.8 in December and 90.5 in January 2021.
• The assessment of the current situation slipped to 96.1, a level last seen since May 2021 and the lowest since April last year.
• Business expectations posted an improvement to 95.2 from November’s 92.7, rebounding after seven straight months of declines. 
• Manufacturing grew for the second straight month to 19.9, while rebounds were recorded in both services and construction.
• The trade index remained in negative territory for the second consecutive month albeit at a higher level than seen in December.