Germany: Business confidence improves for the third month in a row
January 25, 2012
In January, the business confidence indicator published by the Ifo Institute rose to 108.3 points from 107.3 points in December. The reading marked the third consecutive monthly improvement and overshot market expectations that had the index inching up to 107.6 points. The monthly improvement showed that businesses are more optimistic about their expectations for the next six months, with the corresponding sub-indicator rising to its highest level since July 2010. In contrast, firms' current business situation deteriorated slightly compared to the previous month.
Author: Ricardo Aceves, Senior Economist