--Future Mfg Expectations Down Fifth Month In Feb.
--Mfg Current Conditions Down After Jan. Rise
--Orders Sentiment and Output Vs. Prior Month Down In Feb.

FRANKFURT (MktNews) - Seasonally adjusted business sentiment in the west German manufacturing sector fell for the third month in a row in February, with current conditions and future expectations declining, according to details of Ifo's February survey released Monday.
As reported last week, the February overall west German business sentiment index -- which combines sentiment in the manufacturing, construction, retail and wholesale sectors -- was below all expectations, falling sharply to 94.9 from 97.5 in January, due to a decline in both the current conditions and business expectations index.
Details of the Ifo index sector components -- including sentiment in the manufacturing sector, which makes up over 80% of all German industrial output -- were first released today.
The overall west German manufacturing sentiment diffusion index fell to +2.9 in February from +7.4 in January on a seasonally adjusted basis.
The diffusion index on current manufacturing conditions fell to +12.0 in Feb. from +17.1 in Jan.
The manufacturing business expectations subindex fell to -5.8 in Feb. from -1.9 in Jan., down for the fifth month in a row.
Also, export expectations fell to +5.4 from +7.3 in January.
Sentiment on manufacturing orders compared to the previous month fell sharply, down to -10.3 from +1.7 in January.
Also, survey respondents reported that industrial production fell heavily in February, down to -10.6 from +0.3 from in January.
The number of firms who expect to increase production in the months ahead, indicated by the index for future production plans, fell to -1.5 from +0.2 in January.
The number of manufacturing firms judging their inventory levels as excessive rose in February to +12.9 from +10.3 in January.