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German Business Climate increased to 116.7

Wednesday, Oct 25 2017
German Business Climate increased to 116.7

A euphoric mood among German constructors and manufacturers drove business confidence to an all-time high in October, a survey showed, reflecting optimism that an upswing in Europe’s largest economy has further to run. The Munich-based Ifo economic institute said on Wednesday its business climate index, based on a monthly survey of some 7,000 firms, rose to 116.7 from an upwardly revised 115.3 in September.

Ifo said a continuing recovery in the euro zone was helping German exporters feel more positive. This was especially true for capital goods manufacturers and mechanical engineering firms. “Companies are very optimistic about the months ahead. They also upwardly revised their very favorable assessments of the current business situation,” Ifo chief Clemens Fuest said in a statement. “Germany’s economy is powering ahead.”

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