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IPC Index — Mexico Market
German Ifo business sentiment data came in slightly above expectations. The Ifo Business Climate Index pointed to a further improvement in corporate sentiment despite another increase in energy prices.
- The Ifo Expectations Index for Germany rose to 90.4 points, compared with a forecast of 89.3 and 89.1 previously.
- The Ifo Business Climate Index increased to 89.9 points, versus expectations of 89.0 and 88.8 previously.
Is Germany returning to growth?
German companies assessed both current conditions and the outlook for the coming months more positively, while uncertainty continued to decline. Sentiment in manufacturing improved noticeably: companies viewed current conditions more favorably and expect production to increase over the next three months, although order books are still viewed as weak. Business sentiment also improved in the services sector, with expectations becoming more optimistic. The outlook for IT services improved particularly clearly, while transportation and logistics remain under pressure. In trade, both current conditions and expectations improved, with especially strong gains in wholesale sentiment. In construction, the index rose mainly because expectations became less pessimistic, although companies assessed their current situation slightly more negatively. Overall, the Ifo data point to a gradual recovery in the German economy despite persistently high energy costs.
DE40 chart (H1 timeframe)
The DAX futures contract is extending losses today amid weaker sentiment across global markets and a sharp rise in bond yields.
Source: xStation5
Source: Ifo
