The Ifo Business Climate Indices have been released, and things look pretty good. The overall climate index rose 50 bps to 110.3, the situation index fell 10 bps to 112.8, and the expectations index rose 100 bps to 107.8. The manufacturing sector is particularly confident, showing strong gains in their subset of the index. The wholesaling and retailing sectors are less optimistic overall, and the construction sector is actually still pessimistic (although noticeably less pessimistic than it was at the end of December).
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