German economy: IFO business climate index, tax revenues on the rise

While I have commented on several signs of a possible economic decline on Linked-In and here, the German economy seems to walk through these calamities rather undisturbed:

The IFO business climate index for March 2016 rose (after three consecutive falls in the months before) 105.7 points in February one point to 106.7 points in March 2016. Although this is not a dramatic change (the index is still below the 109 points it reached in November 2015), but still, it does not seem the heads of German economy seem to feel a recession or fear one. However, this sentiment seems to be somewhat contradicted by the current ZEW Konjunkturindikator, who has fallen to levels not seen since 2014.

Hard current figures, though, seem to underpin the IFO-view, since e.g. current German tax figures rose by 5% YoY in February and German unemployment figures (unusually for this time of the year) did not only fall on a YoY-basis but even on a MoM-basis to 6.6% in Februray 2016.

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