Summary: ifo business climate index up in February, slightly above expected figure; German economy emerging from period of weakness; current conditions index down a touch, expectations index up; expectations index still implies euro-zone GDP contraction of 3.7% in year to May. Following a recession in 2009/2010, the ifo Institute’s Business Climate Index largely ignored the European debt-crisis of 2010-2012, mostly posting average-to-elevated readings through to early-2020. However, the index was...