Germany: IFO – Business Climate down to 110.7 in March

FXStreet (Łódź) - According to data published on Tuesday by the CESifo Group, German IFO – Business Climate decreased slightly from 111.3 in February to 110.7 in March. Market consensus pointed to less decrease to 111.0.

IFO – Current Assessment grew to 115.2 in March, versus 114.4 the previous month, above forecasts of rising to 114.6. IFO – Expectations slid to 106.4 from 108.3 and below expectations of falling to 107.6.

Carsten Brzeski from ING comments: “Today’s Ifo index sends two messages: the German economy has again entered the fast lane in the first quarter but continuing the ride at maximum speed will not be an easy task.”