German Feb IFO: Surprises positively across all indicators

The headline German Ifo business climate surprised markets to the upside, coming in at 111 points in Feb versus 109.8 booked in Jan and 109.6 expectations. While the current economic assessment also improved dramatically to 118.4 points in the reported month, as compared to 116.9 seen last month and 116.7 estimates.

Further, the Ifo Expectations Index – indicating firms’ projections for the next six months – also surprised positively and jumped to 104 in Feb versus expectations of a drop to 103.0 figure and 103.2 seen last.