Following the release of the German IFO Business Survey, the institute’s Economist Klaus Wohlrabe said that the “economy is robust in face of uncertainty.”
Additional quotes
German economy appears resilient after first shock following Russian invasion of Ukraine.
Mood in German economy has stabilised on a low level.
Supply chain problems remain a major problem for industry.
75% of companies reporting problems with supply chains.
Index for manufacturing has recovered after last month's fall.
Conditions in services sector have improved significantly.
EUR/USD reaction
EUR/USD is keeping its recovery mode intact at around 1.0750, as of writing, down 0.43% on the day.