MADRID, 22 Feb. (EUROPA PRESS) -

The confidence of German businessmen has improved in February for the fourth consecutive month, as reflected in the index prepared by the Munich Institute for Economic Research (Ifo), which has stood at 91.1 points from 90.1 last month , thus reaching its highest value since last June.

"The German economy is gradually coming out of a period of weakness," Ifo president Clemens Fuest said, warning that while expectations were brighter, the assessment of the current situation was less optimistic.

Specifically, the valuation of German companies in the current situation has worsened in February, standing at 93.9 points from 94.1 the previous month, while expectations rebounded to 88.5 integers, compared to 86.4 January, at maximums since February 2022.

In the manufacturing sector, the index rose to its highest level since May 2022 on notably improved expectations, while manufacturers assessed their current business as slightly worse off as they received fewer new orders.

In the services sector, on the other hand, the business climate improved for the fifth consecutive month and businessmen were somewhat more satisfied with their current business situation. In addition, their confidence regarding the coming months continued to grow, particularly in hospitality and tourism.

Likewise, in trade, the index rose again in February, as expectations were less skeptical and companies were also more satisfied with their current situation. In the case of construction, companies were more satisfied with their current situation, but their expectations continue to be marked by significant pessimism.