Improved feelings toward eastern German businesses.
East German firms experienced a mild boost in spirits during May. The Ifo Institute's regional economic indicator for the eastern part of Germany increased from 92.2 to 92.8 points, which the Dresden office of the Munich Institute reported on Friday. This improvement was seen in both the assessment of the current economic situation and the business forecast.
Companies in the manufacturing industry saw a significant spike in enthusiasm in May, according to the Ifo. "Surveyed industrial firms held a more optimistic view of their current business condition than in the prior month," the Ifo shared. "Their projections for future trade conditions also grew substantially." The same trend was observed in retail and wholesale businesses.
In the service industry and the main construction sector, the firms' sentiments were more subdued. Although the atmosphere improved in both industries this month, they still fell short of April.
