Friday preview: German Ifo business climate index results

Germany's economic activity is expected to show little change when Munich's Ifo Institute releases its business climate index results for March on Friday.

Barclays said it anticipates the index, an indicator for business activity in the country's economy, to reflect a consolidation of past gains and moderate growth.

"The assessment of the current situation may improve somewhat further, while expectations of future business activity could moderate slightly," the bank said in a statement.

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The data comes a day after a Markit Economics revealed its results for Germany's purchasing managers' index (PMI), which showed a contraction in the country's business activity.

Germany's composite output index fell to 51 in March from 53.3 in February, the lowest reading in three months.

Marginal falls in new orders in manufacturing and service sectors were indicted in March.

Average prices charged by German private sector companies increased for the sixth consecutive month in March. However, the pace of inflation was only marginal, and eased to its weakest so far in 2013.

Employment numbers rose at the most marked pace since January 2012, led by a stronger increase in the service sector and a slight rebound at manufacturers.

"We look forward to tomorrow's release of national IFO and [National Institute for Statistics and Economic Studies] surveys to see whether they will confirm the weakening picture drawn by today's PMIs," Barclays added.

Last month's business climate indicator for the German service sector rose for the third time in succession.

Friday March 22nd

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