German Ifo business-climate index rises for third month

By Ed Frankl

Sentiment among German companies ticked higher for a third-straight month in April, despite only slow economic growth expected in the early part of this year, according to a closely watched survey.

The Ifo business-climate index rose to 89.4 in April from 87.9 in March, data from the Ifo Institute showed Wednesday, beating expectations of 88.8 from a consensus forecast of economists polled by The Wall Street Journal.

"The economy is stabilizing, especially thanks to service providers," said Clemens Fuest, president of the Ifo Institute.

Companies were more satisfied with their current business, while their expectations also improved, he added.

However, Germany's economic performance remains among the laggards of the eurozone. The country's economy is expected to have grown only slightly in the first quarter of 2024, according to the Bundesbank last week.

Write to Ed Frankl at edward.frankl@wsj.com

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04-24-24 0428ET

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