Mood better than location.
(Photo: IMAGO/Jochen Eckel)
Berlin Despite the war in Ukraine, the mood in the executive floors of German business has brightened somewhat. The barometer for the business climate rose to 91.8 points in April after 90.8 points in March, as the Munich Ifo Institute announced on Monday in its monthly survey of around 9,000 managers.
Economists polled by Reuters, on the other hand, had expected a drop to 89.1 points. “After the initial shock of the Russian attack, the German economy is showing resilience,” said Ifo President Clemens Fuest. The executives assessed their business situation and the prospects for the next six months as better than recently.
According to calculations by the Bundesbank, an escalation of the Ukraine war and stricter sanctions against Russia would hit the German economy hard. According to the economists at the German central bank, the economy was treading water at the beginning of the year.
For the data from the Federal Statistical Office on gross domestic product (GDP) in the first quarter, which is due on Friday, experts polled by Reuters expect an increase of 0.2 percent after the economy shrank by 0.3 percent at the end of 2021.
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