IFO economist out with comments following the data release 25 May 2016
- still seeing no effect from wage rise deal
- construction sector seeing highest morale level since reunification
- investment goods producers primarily drove rise in increase in morale in industrial firms
- industry gaining momentum
IFO head Clemens Fuest is upbeat about the future:
"The German economy is growing at a robust pace"
I had the latest IFO readings here.
Meanwhile EURGBP holding 0.7600 and capping GBPUSD from 1.4663 down to 1.4644
