German business sentiment rises sharply – MarketWatch

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German business sentiment improved a bit in April, the Ifo Institute said Monday.

The Ifo business-climate index came in at 96.8 points in April compared with 96.6 points in March. Economists surveyed by The Wall Street Journal had forecast the index at 97.4 points.

Companies have become less optimistic about the coming six months. The expectations component fell to 99.5 points from a revised 100.3 points in March, Ifo said.

“Both the third wave of infections and bottlenecks in intermediate products are impeding Germany’s economic recovery,” Ifo said.

However, companies assessed their current business situation with more optimism than the previous month, and this component rose to 94.1 points in April from 93.1 points in March.

The Ifo index is based on a poll of about 9,000 companies in manufacturing, services, trade and construction.

Write to Maria Martinez at maria.martinez@wsj.com

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