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Germany — Business climate on the up in March 2010

25 March 2010

The latest Business Climate Index published by the Ifo Institute for Economic Research at the University of Munich reveals that business climate for industry and trade in Germany has strongly improved in March 2010.

The 7,000 companies surveyed by Ifo on a regular basis have assessed especially their current business situation as significantly more favourable. In addition, their business expectations regarding the coming six months are more confident than they were in February. The brightening of the business climate is evident in all surveyed economic sectors.

Ifo Institute President Hans-Werner Sinn said, "Spring has arrived in the German economy. In manufacturing the business climate is clearly more friendly than in the previous month.
Manufacturing firms have reported a considerably more favourable business situation. With regard to the six-month business outlook their confidence is nearly unchanged. They view their opportunities for exports just as promising as in February. Fewer manufacturing firms intend to reduce staffing levels than in the previous month."

"In construction and in wholesaling the business climate index has risen. In both sectors, firms have assessed their current business situation more favourably than in February, and they are also less sceptical in terms of the six-month business outlook."

"In retailing the business situation has equally improved considerably. Both the current business situation as well as the business outlook have been assessed by the survey participants considerably more favourably than in the previous month. The business climate index in retailing has now made up for the strong setback reported in February."

To read the full Business Climate report for March in German language please click here



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