24 June 2013 10:18 [Source: ICIS news]
LONDON (ICIS)--Germany’s business confidence continued to rise in June, an economics research group said on Monday.
Munich-based Ifo said that its monthly business climate index for Germany edged up to 105.9 in June from 105.7 in May and 104.4 in April.
Comparing June with May, Ifo’s expectations forecast for Germany rose to 102.5 from 101.6, Ifo added.
In a commentary on the latest survey data, Kai Carstensen, Ifo’s head of the department for business cycle analysis and surveys, said: “Although assessments of the current business situation are slightly less positive, firms are increasingly optimistic with regard to their future business outlook. The German economy holds its course.”
Ifo’s segmented data for June showed the German manufacturing business climate index at 7.8, from 6.1 in May, the trade and industry index at 4.4, from 4.1 in May, and the construction index at 1.0, down from May’s 1.2.
Carstensen added: “Manufacturers are once again slightly more satisfied with their current business situation. They are also clearly more optimistic about future business developments. Export expectations in particular have increased sharply.”
The Ifo indexes are based on a survey of some 7,000 companies.
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