Germany business climate improves for third straight month in January

25 January 2013 14:32  [Source: ICIS news]

LONDON (ICIS)--Germany’s business climate improved for the third consecutive month in January, largely driven by greater optimism in the country’s manufacturing and construction sectors, a research group said on Friday.

Munich-based Ifo said that its business climate index for Germany rose to 104.2 points in January, from 102.4 in December. The index is based on about 7,000 monthly survey responses from firms in manufacturing, construction, wholesaling and retailing.

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

By: Stefan Baumgarten
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