German Ifo Business Climate rose to 96.3 in December, up from 95.0, beat expectation of 95.5. Current Assessment Index rose to 98.8, up from 97.9, beat expectation of 98.1. Expectation Index rose to 93.8, up from 92.1, beat expectation of 93.1. “The German economy is heading into the New Year with more confidence,” Ifo President Clemens Fuest said.
Looking at some details, manufacturing improved from -5.8 to -5.0. Service rose from 17.4 to 21.3. However, trade dropped from 0.9 to 0. Construction also dropped from 20.3 to 17.9.
