German IFO business climate rises to 10-month high

FXStreet (Mumbai) - The Ifo Business Climate Index for German trade and industry rose to a 10-month high of 108.6 in March, beating the estimate of 108.4, and up from February’s 107.9.

Companies were more satisfied with their current business situation. They also expressed far greater optimism about future business developments. The current assessment rose to 113.9 from 112.00. However, the expectations index declined to 103.5 from 103.9.

Despite a weak expectations index, production plans have reached their highest level since May 2014.