German Business Sentiment Strongest Since 2011
April 24 2017 - 4:22AM
RTTF2
Germany's business confidence improved to a near six-year high
in April as companies were more upbeat about their current
situation.
The business confidence index rose to 112.9 from a revised 112.4
in March, survey data from the Munich-based Ifo institute revealed
Monday.
The reading was the highest since July 2011. The score was
forecast to rise marginally to 112.4 from March's initially
estimated value of 112.3.
The current conditions index improved unexpectedly to 121.1 from
119.5 a month ago. The reading was forecast to fall to 119.2 in
April.
On the other hand, the expectations index dropped to 105.2 from
105.7 in the previous month. The expected reading was 105.9.
The survey suggests that the German economy is growing
noticeably in the second quarter, Commerzbank analayst Ralph
Solveen said.
But given the high level that has already been attained and the
fact that the problems in the Eurozone still persist, sentiment
indicators should now be near the end of the road, the analyst
added.
In manufacturing, the business climate indicator dropped
slightly in April. Manufacturers were satisfied with their current
situation, while business expectations were somewhat less
optimistic.
In wholesaling, the business climate continued to improve, with
assessments of the current business situation hitting their highest
level since 1991. However, slightly fewer wholesalers expect
further improvements in the months ahead.
In retailing, the business climate index advanced to its highest
level since September 2015. Retailers were markedly more satisfied
with their current situation and also expect to see considerable
business growth over the next six months.
The business climate index in construction rose once again.
Assessments of the current business situation climbed to a new
record high, while there was almost no change in expectations.
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