IFR Brief: IFO breakdown positive for German Q2 growth

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Divyang Shah

The service sector climate index has gone up to 15 compared to 12.4 in April while the retail climate index has managed to claw its way back into positive territory at +0.1 compared to -1.1 in Apr.

This pick-up supports the positive outlook for Q2 and also suggest the likelihood that the German PMI readings will go back above 50 over the next 1-2 months led by services.

IFO