It is a relatively busy morning on the European economic calendar. The German Ifo Business Climate Index was in focus this morning.
The Current Assessment Index fell from 95.4 to 95.0 in April, while sentiment towards the outlook improved, with the Business Expectations Index rising from 91.0 to 92.2. Economists forecast increases to 96,0 and 91.5, respectively.
As a result, the German Ifo Business Climate Index increased from 93.2 to 93.6 in April versus a forecasted 94.0.
According to the April survey,
- Firms were more optimistic across the manufacturing sector while their view of the current business worsened.
- In contrast, service providers became more pessimistic about the months ahead and took a more negative view of their current situation.
- In trade, businesses…
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