Wednesday, 24 March 2010

German Business Climate March 2010 Much Brighter

Results of the March 2010 Ifo Business Survey

The Ifo Business Climate for industry and trade in Germany has strongly improved in March. The firms have assessed especially their current business situation as significantly more favourable. In addition, their business expectations regarding the coming six months are somewhat more confident than in February. The brightening of the business climate is evident in all surveyed economic sectors. Spring has now too arrived in the German economy.

In manufacturing the business climate is clearly more friendly than in the previous month. The 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 the employment than in the previous month.

In construction and in wholesaling the business climate index has risen. In both sectors the 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 improved considerably. Both the current business situation as well as the business outlook have been assessed by the survey participants considerably more favourable than in the previous month. The business climate index in retailing has now made up for the strong setback reported in February.

Hans-Werner Sinn
President of the Ifo Institute for Economic Research at the University of Munich

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