Germany: Business confidence improves for the fourth consecutive month
February 23, 2012
In February, the business confidence indicator published by the Ifo Institute rose to 109.6 points from 108.3 points in January, overshooting market expectations that had the index rising to 108.8 points. The increase, which marked the fourth consecutive monthly improvement in the index, pushed business sentiment to its highest level since July 2011. The February improvement showed that businesses are more optimistic about their expectations for the next six months, with the corresponding sub-indicator jumping to its highest level since August 2011. Moreover, businesses' current situation improved over the previous month, after the corresponding sub-indicator had dropped to its lowest level in 16 months in January.
Author: Ricardo Aceves, Senior Economist