German Ifo Survey Hits Six Year High

A closely watched survey shows that business confidence in Germany, Europe’s biggest economy, has unexpectedly risen to a six-year high.

The Ifo institute said Monday that its monthly confidence index rose to 112.3 points in March from 111.1 last month. Economists had forecast that it would dip to 110.8.

Managers’ evaluation of their current situation and outlook for the next six months both brightened.

The Ifo institute, which surveys some 7,000 companies for its monthly index, said the survey hit its highest level since July 2011. It said that “the upswing in the German economy is gaining impetus.”

via Mainichi

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza