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- Germany’s business climate improves slightly less than forecast in September
Germany’s business climate improves slightly less than forecast in September
ifo Institute announced
on Thursday its survey of about 9,000 businesses revealed that sentiment among
German companies continued to improve in September.
According to the
report, ifo Business Climate Index increased to 93.4 in September from a
revised 92.5 in August (originally 92.6). That was the highest reading since
February.
Economists had
forecast the indicator to come in at 93.8.
The current
situation sub-index climbed to 89.2 this month from 87.9 in August, as the companies
once again assessed their current situation as better than in the previous
month. Meanwhile the gauge measuring companies' expectations for the coming
months rose to 97.7 from 97.2, reflecting anticipations of further recovery of
the business.
On the sector
level, the business sentiment improved in manufacturing, trade and construction, but it
worsened in the service sector, due to less optimistic expectations.
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