German business morale rose unexpectedly in February, a survey showed on Monday, easing recession fears in Europe’s largest economy which has been losing momentum as its manufacturers struggle with falling exports.
The Ifo institute said its business climate index rose to 96.1 after an upwardly revised 96.0 in January. The February reading compared with a Reuters consensus forecast for a fall to 95.3.
“The German economy seems unaffected by developments surrounding the coronavirus,” Ifo President Clemens Fuest said in a statement, sticking to a first-quarter growth forecast of 0.2%.
Source : Reuters