Germany’s IFO: Companies see business return to normalcy in 11 months
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According to the latest survey of businesses conducted by Germany’s influential IFO institute, the firms in Eurozone’s economic powerhouse expect business to return to normalcy in an average of 11 months from the coronavirus crisis.
Key findings
“For companies in the services sector, that number is even higher, at 11.7 months.”
“The manufacturing sector sees a normalization in 10.1 months.”
Market reaction
The shared currency seems to cheer the above report, as EUR/USD heads back towards the daily highs of 1.1817.
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