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ifo Business Climate Index hits new record
Results of the ifo Business Survey for June 2017
June 28, 2017: Sentiment among German businesses is jubilant. The ifo Business Climate Index rose from 114.6 points last month to 115.1 points in June, breaking last month’s record. Companies were significantly more satisfied with their current business situation this month. They also expect business to improve. Germany’s economy is performing very strongly.
In manufacturing, the index rose slightly. Assessments of the current business situation remained unchanged at a very high level. Manufacturers are slightly more optimistic about the short-term future. Developments in demand and order levels were very favourable. Manufacturers plan to ramp up production.
In wholesaling, the business climate improved for the third month in succession to reach its highest level since December 2010. Assessments of the current business situation hit a new record high and expectations were also upwardly revised.
In retailing, the index improved notably. Retailers were far more satisfied with their current business situation. Their optimism about the short-term business outlook reached its highest level since September 2015.
In construction, the index fell. Contractors marginally scaled back their assessments of the current business situation and business expectations, which nevertheless remain at a high level. Their very good order situation is expected to boost prices for construction services.
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