Business confidence in Germany has stabilized at a low level, following a sharp drop in the previous month due to high energy prices and uncertainty from the Ukraine war.
The Ifo business-climate index rose to 91.8 points in April from 90.8 points in March, according to data from the Ifo Institute released Monday. Economists polled by The Wall Street Journal expected the index to decrease to 89.1.
“After the initial shock of the Russian attack, the German economy has shown its resilience,” Ifo President Clemens Fuest said.
The small increase was due primarily to less pessimism in companies’ expectations, with this index posting an increase to 86.7 in April from 84.9 the previous month, Ifo’s data show.
Companies’ assessments of the current situation are marginally better, rising to 97.2 in April from 97.1 in March.
The Ifo index is based on a poll of about 9,000 companies in manufacturing, services, trade and construction.
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