German Ifo business climate index likely to have climbed in May

Germany’s Ifo business climate index is expected to have marginally climbed in May. The indicator of the business climate continues to be at historically high level due to resilient current conditions, said Societe Generale in a research report. The Ifo business climate index is expected to have risen to 106.7, added Societe Generale.

A more solid rebound in the assessment of current conditions is likely in May, whereas expectations might have been largely flat. Larger coverage of firms that show major share of the domestic service sector that stays strong is mainly the reason for the relative strong Ifo level in May, noted Societe Generale.