KfW researcher Philipp Scheuermeyer said the steady rise in the Ifo business climate index suggests German growth momentum should continue. He cited government reforms, strong construction output and a potential pickup in consumer spending as supporting factors. Scheuermeyer warned Q2 signals are more uncertain amid a faltering US‑Iran peace deal; a modest rise in energy prices could be absorbed, but a prolonged disruption to Gulf energy exports would inflict damage via an energy‑price shock.