BERLIN, Nov. 22 (Reuters) – Germany’s economic picture has brightened a bit, with improvements in gas supplies, in particular, having an impact, the head of Germany’s Ifo Institute told Reuters on Tuesday.
Clemens Fuest said the unexpected month-on-month drop in producer prices and the reduction in supply chain disruptions are reasons for optimism, but “the most important point is that the gas supply situation is very bright”.
Fuest highlighted a warm October, full gas storage facilities and plans for liquefied natural gas (LNG) terminals as positives. “All this shows that the situation is improving,” he said.
Fuest said his statements were not a forecast of the upcoming Ifo business climate report to be released on Thursday.
Analysts polled by Reuters expected the index to rise slightly in November to 85.0 after a reading of 84.3 the previous month.
Reporting by Reinhard Becker Writing by Miranda Murray. Edited by Jane Merriman
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