In manufacturing, the index rose substantially. Companies were notably more satisfied with their current business situation. Moreover, pessimism almost completely disappeared from their expectations. Sentiment improved considerably, especially in key areas of manufacturing such as the chemical, machinery, and equipment industries, according to a press release by ifo Institute.
In trade, the index rose slightly. The recovery of recent months lost momentum. The indices for current business and expectations both climbed a little. However, there was almost no movement in retail, where companies are still pessimistic about the months ahead.
ALCHEMPro News Desk (NB)
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