German business climate rises marginally in February

The German Business Climate Index rose slightly in February from the previous month, the German ifo Institute for Economic Research said on Monday.

The monthly ifo Business Climate Index, which reflects the economic sentiment of around 9,000 German companies, rose to 96.1 points from adjusted value of 96.0 points in January, according to the Munich-based institute.

In the four sectors, the business climate indexes of three sectors including service, trade and construction have all declined in February. Only the index of manufacturing rose for the third consecutive month due to considerably less pessimistic expectations, ifo reported.

“Sentiment among German managers has improved somewhat,” commented Clemens Fuest, president of the ifo Institute. Although companies assessed their current situation as a little worse, they are less pessimistic about the next six months.

The survey results and other indicators suggest German economic growth in the first quarter will amount to 0.2 percent, he added.