25 January 2013 14:32 [Source: ICIS news]
Munich-based Ifo said that its business climate index for
Overall, firms assessed their current business situation as more positive than they did in December, and are more optimistic about their prospects, Ifo said.
“The German economy made a promising start to the New Year,” it added.
In manufacturing, the business climate indicator continued to rise, with producers more satisfied with their current business situation than last month. Manufacturers continue to be more optimistic about future business developments, Ifo said. Manufacturing capacity utilisation also rose in January after three successive months of decline, the group added.
“Optimism [in manufacturing] is returning,” Ifo said.
In wholesaling, firms are less satisfied with their current business situation, and are slightly more pessimistic about future business developments.
In retailing, the business climate indicator rose somewhat as a result of a positive assessment of the business situation, while retailers’ business expectations remained unchanged from December.
In building and construction, the business climate index rose sharply. This was primarily due to far more optimistic expectations than in December. Builders' assessments of the current business situation also improved, Ifo said.
Paul Hodges studies key influences shaping the chemical industry in his Chemicals and the Economy Blog
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