Germany's Ifo business confidence index rose to 101.4 in November from 100 in October as companies became less pessimistic about future business developments
November 23, 2012
– The Ifo Business Climate Index for German industry and trade rose again after six successive decreases. Companies expressed slightly greater satisfaction with their current business situation. They were also far less pessimistic about future business developments. The German economy is holding up in the face of the euro crisis.
In manufacturing the business climate index rose slightly following a six-month decline. Companies expressed slightly greater satisfaction with their current business situation. They were also less pessimistic than last month with regard to the six-month business outlook. Export expectations were positive for the first time in three months.
The business climate index in wholesaling increased sharply. The wholesalers surveyed reported a dramatic improvement in their current business situation and expressed far less pessimism regarding future developments. The business climate also brightened in retailing. While assessments of the current business situation were somewhat poorer, retailers expect business to pick up significantly in the future.
In construction the business climate recovered considerably. Construction companies reported a clear improvement in their current business situation and were also more confident about future business developments.
President of the Ifo Institute
Ifo Institute November 2012 German Business Climate Survey