Germany: Business confidence reaches record high in October
October 25, 2017
German business confidence increased from 115.3 points (previously reported: 115.2 points) in September to 116.7 points in October. The result overshot market expectations and marks the best result since the survey began in 1991.
Looking at the result in more detail shows that the increase reflected companies’ very optimistic sentiment about future business conditions. A more positive view of current business conditions also contributed to the reading, as the German economy shows no signs of slowing down. The result was sufficiently broad-based: The manufacturing, construction and retail industries recorded higher readings than in the previous month; firms in the wholesaling sector, however, were less optimistic.
Author: Jan Lammersen, Economist