Munich’s Ifo Institute for Economic Research reports that its business climate index rose in March 2019, reversing a six-month trend. The seasonally adjusted index went up from 98.7 to 99.6 points, as managers felt more confident about their prospects for the coming six months.
Driving the uptick was increased optimism in the already positive service sector. But views of the current business climate also improved in construction, which enjoyed record volume in January, and trade leaders, too, said that their business was developing nicely.
“The latest Ifo survey shows that amidst the many recent reports of doom and gloom, German businesspeople actually remain quite confident about the future,” said Dr. Robert Hermann, CEO of Germany’s federal economic development agency Germany Trade & Invest (GTAI). “The German economy is very robust and resistant to worries about an economic downturn.”