(Adds details, analyst, economist Ifo)
BERLIN, Feb 22 (Reuters) – German business morale improved in February, adding to signs that Europe’s biggest economy is recovering despite an energy crisis and high inflation, a survey said on Wednesday.
The Ifo Institute said its business climate index was 91.1 after a revised reading of 90.1 in January.
A Reuters poll of analysts had pointed to a February reading of 91.2.
“The German economy is gradually working its way out of its weak phase,” said Ifo President Clemens Fuest.
The index measuring current conditions unexpectedly eased slightly to 93.9 from 94.1 last month, falling short of analysts’ expectations for a rise to 95.0.
“The continued slight decline in the assessment of the current business situation makes us thoughtful” despite the rise in the business climate index, Commerzbank chief economist Joerg Kraemer said.
Slightly fewer companies in Germany – 45.4% – complained about supply chain bottlenecks in February compared to January, when the percentage was 48.4%.
according to Ifo economist Klaus Wohlrabe.
The German economy will not overcome a recession, but it will be a mild recession, he added. (Reporting by Rachel More and Miranda Murray, editing by Friederike Heine)
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