By Maria Martinez
German business sentiment improved noticeably in March, beating expectations and reaching its highest since June 2019, the Ifo Institute said Friday.
The Ifo business-climate index came in at 96.6 points in March compared with an upwardly revised 92.7 points in February. Economists surveyed by The Wall Street Journal had forecast the index at 93.0 points.
Companies have become less pessimistic about the coming six months. The expectations component rose to 100.4 points from a revised 95.0 points in February, Ifo said.
“Despite the rising rate of infections, the German economy is entering the spring with confidence,” Ifo said.
Companies also assessed their current business situation with more optimism than the previous month, and this component went up to 93.0 points in March from 90.6 points in February.
The Ifo index is based on a poll of about 9,000 companies in manufacturing, services, trade and construction.
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(END) Dow Jones Newswires
March 26, 2021 05:25 ET (09:25 GMT)
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