The German economy had shrunk by 0.4 percent at the end of 2022, also because of the energy crisis.
(Photo: IMAGO/blickwinkel)
Berlin The mood in the German economy improved in April for the sixth month in a row. The barometer for the business climate climbed to 93.6 points from 93.2 points in March, as the Munich Ifo Institute announced on Monday in its survey of around 9,000 top managers.
This means that the mood is better than it has been since the outbreak of the Ukraine war in February 2022. Economists polled by Reuters had expected an increase to 94.0 points. “The concerns of German companies are easing, but the economy is lacking in dynamism,” said Ifo President Clemens Fuest. Managers assessed their situation somewhat more skeptically than recently, but their business prospects are better.
The German economy had shrunk by 0.4 percent at the end of 2022, also because of the energy crisis. There were therefore concerns that the economy would also shrink at the beginning of 2023 and that Germany would slide into a recession in the winter months.