23 November 2012 15:08 [Source: ICIS news]
Munich-based Ifo institute said that its business climate indicator for
Ifo said that companies expressed slightly greater satisfaction with their current business situation.
Also, companies across all the sectors - manufacturing, construction, wholesaling and retailing – were less pessimistic about their outlook for the next six months than in October, Ifo said.
Manufacturers’ export expectations were positive for the first time in three months, it added.
“The German economy is holding up in the face of the euro crisis,” said Ifo president Hans-Werner Sinn.
In related news, a survey of German purchasing managers this week showed that the decline in the country's manufacturing sector seems to have eased.
However, financial market analysts said in a recent survey that they expect
Additional reporting by Tom Brown
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