Summary: ifo business climate index up again in May; above expected figure; expectations, current conditions indices both up; index consistent with positive euro-zone GDP growth. Following a recession in 2009/2010, the ifo Institute’s business climate index largely ignored the European debt-crisis of 2010-2012, remaining at average-to-elevated levels through to early-2020. However, the index was quick to react in the March 2020 survey, falling precipitously. The rebound which began in...