Ifo business climate improves for the third month in a row
Sentiment in the German economy improved in November for the third month in a row. The Ifo Business Climate rose by 0.4 points compared to the previous month to 87.3 points, according to the Ifo Institute.
Analysts had expected a better mood for Germany's most important economic indicator, but had anticipated a slightly higher index value of 87.5 points.
The approximately 9,000 companies surveyed by the Ifo Institute assessed both the current situation and expectations for future business better. "The German economy is stabilizing at a low level," commented Ifo President Clemens Fuest on the results of the latest survey. Pessimism regarding expectations for the coming months has decreased. However, the mood in the construction industry remains "extraordinarily poor".
The improved Ifo Business Climate suggests a positive shift in the economic situation, as indicated by better assessments of both current conditions and future expectations by surveyed companies. Despite this improvement, the construction industry continues to have an unusually poor outlook.
Source: www.dpa.com
