Overview
- Ifo’s business climate index increased to 88.6 in February from 87.6, with President Clemens Fuest citing first signs of a pickup.
- Export expectations turned positive at +2.6, with brighter readings in industry, services and construction, while retail developments were mixed.
- GfK/NIM reported the consumer climate for March at −24.7 as saving intent hit its highest level since 2008, pointing to subdued demand.
- Ifo’s employment barometer edged down to 93.1, and many export‑oriented firms, notably in autos, signaled plans for job cuts.
- Official data confirmed Q4 GDP growth of 0.3% driven by state spending and firmer household consumption, as new U.S. tariff moves and legal uncertainty add external risk.