22 June 2010 20:20 [Source: ICIS news]
TORONTO (ICIS news)--Germany's business confidence improved slightly in June from May, with the outlook for foreign business still seen as very good even though export growth is slowing, an economic research institute said on Tuesday.
The Ifo institute’s widely-watched business climate index for ?xml:namespace>
The increase in the Ifo index – which is based on survey’s of 7,000 business executives – compared with June's decline in the ZEW economic sentiment index, which was based on an analysts’ survey.
Munich-based Ifo said that generally, manufacturers in
However, manufacturers’ six-month business outlook had dimmed somewhat, the group said. Exports were not expected to grow as strongly as up to now, it said. Still, the overall outlook for foreign business was “still regarded as very good,” it said.
Manufacturers’ employment plans indicated that they intended to keep staffing at current levels, the institute added.
In a separate statement, Ifo said that exporters should welcome the increase in competitiveness from the euro’s decline since the start of the year. The decline would help them cope with the fall-out from the economic crisis, which was not yet over, Ifo said.
However, about half of
Ifo also said that the euro would be jeopardised if EU governments failed to rein in budget deficits and cut debts.
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