Germany business climate improves again in February – survey

22 February 2013 14:02  [Source: ICIS news]

LONDON (ICIS)--Germany’s business climate improved for the fourth straight month in February as firms are becoming more optimistic about their prospects, an economic research group said on Friday.

Munich-based Ifo said that its business climate indicator for Europe’s largest economy rose by 3.1 points to 107.4 in February, marking its largest increase since July 2010. The index is based on about 7,000 monthly survey responses from firms in manufacturing, construction, wholesaling and retailing.

February's improvement was especially sharp in manufacturing where firms are “considerably more optimistic about their business outlook,” Ifo said. Export expectations increased and are now above their long-term average once again.

Manufacturers also expressed greater satisfaction with their current business situation, Ifo added.

In construction the business climate index continued to rise sharply, primarily due to a far more optimistic business outlook. The business outlook in construction reached its highest level since German reunification in 1990, Ifo said.

In wholesaling the business climate also improved after deteriorating last month.

In retailing, on the other hand, the business climate remained unchanged from January. Retailer’s assessments of their current business situation were more positive than last month, but they were slightly more skeptical about future business developments.

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

By: Stefan Baumgarten
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