German March IFO: Upbeat across all indicators

The headline German Ifo business climate surprised markets to the upside, coming in at 112.3 points in March versus 111.0 seen last month and expectations of no change. While the current economic assessment also improved dramatically to 119.3 points in the reported month, as compared to 118.4 seen last month and 118.3 estimates.

Further, the Ifo Expectations Index – indicating firms’ projections for the next six months – also rose above expectations to 105.7 in March versus expectations of a 104.3 figure and 104.2 seen last.