Celle architecture, Germany photo

Ifo: German Business Confidence Picks Up in February

Ifo, a German economic research institute, announced that business confidence in Germany rose in February as the country continues its economic recovery from the COVID-19 pandemic.

The business sentiment index increased to 91.1 from 90.1 in January, signaling an upward trend. However, the index fell short of analysts’ expectations, which were set at 91.2.

The Ifo survey is based on a monthly survey of companies in the manufacturing, construction, wholesale, and retail sectors, including the service sector. It surveys about 9,000 companies every month.

The index was driven by a rebound in sentiment for the next six months, indicating that businesses are confident about the future. The uptick in sentiment is a positive sign for the German economy, which has been hit hard by the pandemic and its associated restrictions.

The survey shows that German businesses are optimistic about the future, and the country’s economic recovery is expected to continue. Overall, the Ifo survey suggests that business sentiment in Germany is picking up, and the country’s economy is on the path to recovery.

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