The headline German Ifo business climate surprised markets to the upside, coming in at 112.9 points in April versus 112.3 recorded last month and expectations of 112.5. Meanwhile, the current economic assessment also improved to 121.1 points in the reported month, as compared to last month's 119.5 (revised higher from 119.3 reported earlier) and 119.2 anticipated.
However, the Ifo Expectations Index – indicating firms’ projections for the next six months – eased a bit to 105.2 in April versus expectations to 106.0 and 105.7 seen last.
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