Germany business climate improves again in December

19 December 2012 13:56  [Source: ICIS news]

LONDON (ICIS)--Germany’s business climate improved for the second month in a row in December as companies are considerably less pessimistic about future developments, Munich-based economics research group Ifo said on Wednesday.

Ifo said that its monthly business climate index for Europe’s largest economy rose to 102.4 points in December, from 101.4 in November when the index improved for the first time in six months. The index is based on survey responses from about 7,000 German companies.

“As the year draws to a close, German companies are more confident about the future,” said Ifo president Hans-Werner Sinn.

In manufacturing the business climate continued to brighten.

Manufacturers assessed their current business situation slightly less favourably than last month, but they are far more optimistic about the future than previously, Ifo said.

Business expectations showed their sharpest increase since August 2009. Manufacturers’ export expectations also continued to improve, it added.

However, wholesalers and retailers were less satisfied with their current business situation and somewhat more sceptical about future developments than in November, Ifo said.

Meanwhile, in construction the business climate continued to improve in December. While building companies were more cautious in their assessments of the current business situation, they were far more optimistic about the next six months.

Paul Hodges studies key influences shaping the chemical industry in his Chemicals and the Economy Blog

By: Stefan Baumgarten
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