Germany’s IFO: Production expectations index for industrial sector rose in May
|Germany’s influential IFO institute came out with a statement on Monday, citing that its production expectations index for the industrial sector rose in May.
The index for production expectations rose to -20.4 points in May from -51.0 points in April, the IFO reported.
The institute added that the production expectations index rose by the largest amount since reunification but only car makers are optimistic.
Klaus Wohlrabe, Head of Surveys at IFO noted: “But that only means that the nosedive is now becoming flatter.”
This comes ahead of the April Industrial Production data for Germany, due at 0600 GMT.
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