2014.04.2405:43:00UTC+00German Ifo Points to Further Recovery

Quotes from Capital Economics:

-April's German Ifo survey supports the message from other surveys that the steady economic recovery has continued. The rise in the overall business climate indicator, from 110.7 to 111.2, pretty much reversed last month's fall and beat the consensus forecast of a rise to 110.4. It follows a similar increase in the German PMI.

-But the level of expectations remains lower than earlier in the year, suggesting that a marked acceleration in the speed of the recovery is unlikely. We continue to expect GDP growth of about 1.5% in 2014 and 2.0% in 2015, not strong enough to drive a rapid recovery across the euro-zone as a whole or to take the pressure off the ECB for more policy action.