Recruit Sales in Germany Covid -19 May Update Bulletin

Covid 19 Update May/June 2020

IFO INDEX

The mood of the top German companies has brightened somewhat after a historic slump in March and April due to the Corona crisis. As announced by the Munich Ifo Institute today, the business climate rose in May by 5.3 points to 79.5 points. The rise is from a record low.

Analysts had expected an increase to 78.5 points. The easing of the corona restrictions sparked hope, commented Ifo President Clemens Fuest in a statement released ten minutes ago.

The situation, however, is still unclear moving forward. "The restart of the economy is a silver lining for many companies," commented the chief economist of a leading bank. However, since the consequences of the pandemic can still not be fully estimated, a rapid return to pre-crisis levels is not expected.

Compiled by SA in May 2020 from various news sources

*Please note the information contained herein is an aggregate of news stories, by commentators widely available - readers should seek independent verification, and this in no way represents the views or opinions of Standley Associates.

We will continue to check the news reports and will provide monthly summaries of the trends.