June 2011 Ifo Business Survey
The Ifo Business Climate for German industry and trade improved in June for the first time since February. The firms have given clearly more positive assessments of their current business situation than in May. Although their business expectations are again somewhat less optimistic, the firms remain confident. The German economy is experiencing a robust upswing.
The business climate in manufacturing continues to be good. The hitherto excellent business situation of the industrial firms has improved again in June. The business expectations of the surveyed firms are once again less positive, however. They continue to expect impulses from exports but are not quite so optimistic in this regard as in past months. The industrial firms intend to be more cautious in expanding staff levels.
In retailing the current business situation continues to be good. The confidence of the retailers with regard to the business outlook has weakened considerably, however. For this reason, the business climate index in retailing has fallen. In contrast, in wholesaling the business climate index has risen noticeably. The wholesalers have given much better assessments of their current business situation. They are also more confident regarding the six-month business outlook than in May.
The business climate in the construction sector has brightened considerably. The surveyed building contractors have given more positive assessments of both the current business situation as well as the six-month business outlook than in the past month
Hans-Werner Sinn
President of the Ifo Institute for Economic Research at the University of Munich
President of the Ifo Institute for Economic Research at the University of Munich
Details and Download: Ifo Business Climate
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