Following the release of the final German IFO Business Survey, the institute’s Economist Klaus Wohlrabe said that the economy sees light at the end of the tunnel.
“The business climate in the industrial sector improved significantly but industrial firms are far from optimistic.”
“Easing of lockdown is improving mood among retailers.”
“Gradual easing of lockdown offers a glimmer of hope.”
“Still assume GDP will decline by double-digit amount In Q2.”
“Level of orders in the capital goods industry remains very bad. “
“Companies still expect exports to fall, but less dramatically than in the previous month.”