Ifo Points to Pick Up in German Growth

German business confidence unexpectedly improved, underpinning the Bundesbank’s prediction that economic growth strengthened at the start of the year.

The Munich-based Ifo institute’s business climate index rose to 111 in February from a revised 109.9 in January. That compares with a median estimate of 109.6 in a Bloomberg survey of economists.

The German economy expanded at the fastest pace in five years in 2016 and is forecast to continue to drive growth in the 19-nation euro region even amid concerns that political events — ranging from U.S. economic policies to Brexit and France’s presidential election — could stymie momentum. Both Thyssenkrupp AG and Siemens AG have issued words of caution about global risks.

Bloomberg

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MS

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Craig Erlam

Craig Erlam

Senior Market Analyst - UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a Market Analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and BNN. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
Craig Erlam