Germany: Business confidence rises for third consecutive month
January 25, 2013
The January business climate index published by the Ifo Institute rose to 104.2 points in January from 102.4 points in December. The figure marked a third consecutive increase in business sentiment after the index fell to a two-and-a-half year low in October. The reading also overshot market expectations, which had the index rising to 103 points.
Business confidence improved buttressed by firms' more optimistic assessment about both their current business situation as well as their future business prospects for the next six months. According to Ifo, "the German economy made a promising start to the new year".
Author: Ricardo Aceves, Senior Economist