Companies assessed their current business situation as somewhat better. Expectations for the coming months were also less pessimistic. The German economy is stabilising, albeit at a low level, ifo Institute said in a press release.
In manufacturing, the business climate index rose markedly. Companies were more satisfied with their current business. Their scepticism regarding the months ahead also reduced noticeably, especially in many energy-intensive industries. Nonetheless, companies still reported a lack of new orders.
In trade, the index rose notably. The indicators for the current situation and for expectations both leaped higher. This is particularly evident in wholesale. In contrast, retailers have rather low expectations for their Christmas business.
ALCHEMPro News Desk (NB)
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