Business among German carmakers picks up speed in March: Ifo – Reuters

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Business among German carmakers picks up speed in March: Ifo – Reuters

FILE PHOTO: View to the car body construction line of the new electric Volkswagen model ID.3 in Zwickau, Germany, February 25, 2020. REUTERS/Matthias

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FILE PHOTO: View to the car body construction line of the new electric Volkswagen model ID.3 in Zwickau, Germany, February 25, 2020. REUTERS/Matthias Rietschel

BERLIN (Reuters) – Germany’s car industry picked up speed in March, a survey published by the Ifo economic institute showed on Tuesday, although automotive executives also become less optimistic about the outlook for the coming months.

The survey’s indicator for the current business situation rose to 7.9 points in March from -0.4 in February, as carmakers filled up their order books and ramped up production.

“Spring has arrived for carmakers,” said Ifo’s Klaus Wohlrabe.

But the survey’s indicator for business expectations fell to 19.1 points from 37.3 in February, suggesting managers in the industry are gloomier about its prospects for the coming months.

Reporting by Caroline Copley, editing by Kirsti Knolle

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