FRANKFURT — German economic sentiment improved slightly in April as business morale recovered from the initial shock caused by Russia’s war on Ukraine, a top German economic sentiment indicator showed Monday.
The business climate index rose to 91.8 points in April, up from 90.8 points in March, when it had posted an even sharper drop than at the start of the pandemic, Germany’s Ifo institute reported.
The news is also better what most economists had expected ahead of the release, with many forecasting a further drop in sentiment.
The improvement was mainly due to more optimistic expectations, but companies also assessed the current situation as marginally more positive.
“After the initial shock of the Russian attack, the German economy has shown itself to be resilient,” said Ifo President Clemens Fuest.
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