The IFO confidence survey for April was mixed today and surely not that surprising amid the heightened uncertainty in the market.
German confidence is still resilient for now with the current assessment index rising to 116.3 from 115.8 and opposed to the expected decline to 115.5. Nevertheless, the outlook expectations are not that upbeat with the strongest drop among all to 104.7 from 106.5 and below the expected 105.5.
Following the rate hike and the high uncertainty seen surely the outlook will be affected as business start to feel the heat. The business climate index also slowed to 110.4 from 111.1 and below the expected 110.5.