German business sentiment improves more than expected - Ifo

(Sharecast News) - German business sentiment improved more than expected in February, according to a survey released on Monday by the Ifo Institute.

The business climate index rose to 88.6 from 87.6 in January, coming in above expectations for a reading of 88.4.

The current situation index ticked up to 86.7 in February from 85.7 the month before, while the expectations index printed at 90.5, up from 89.6.

Ifo Institute president Clemens Fuest said: "The German economy is showing first signs of recovery."

ING said: "All in all, today's Ifo index paints a picture of what a nice and decent cyclical upswing could look like. Unfortunately, economic narratives from Germany have hardly been fairy tales recently."