Improving Ifo Business Climate
The Ifo Business Climate for industry and trade in Germany clearly improved again in November. “Firms are no longer as dissatisfied about business as before. Their business outlook for the next six months is more favourable than in October. Optimistic and pessimistic business expectations now balance out. The German economy continues on the road to recovery,” says Hans-Werner Sinn of the IFo Institute for Economic Research, Munich.
The business climate in manufacturing improved significantly. Manufacturers’ current business situation is more favourable than in October. They perceive business prospects and export opportunities as more positive for the next six months. Personnel planning is no longer primarily focussed on staff cuts.
The business climate in wholesale and retail also brightened, with participants of the survey being less sceptical about developments in the coming six months. Retailers view their current business situation somewhat more favourably, whereas wholesalers find that the situation in November has remained largely unchanged.
In construction the business climate index fell. Assessing their current situation as similar to that in October, firms are more reserved about future developments.
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