Germany: Business confidence rises to 17-month high
September 24, 2013
The business confidence indicator published by the Ifo Institute registered 107.7 points in September (August: 107.6 points). The indicator, which rose for five consecutive months, reached its highest level since April 2012. The print, however, fell short of market expectations of an increase to 108 points.
According to the Ifo, the September survey showed that although businesses were slightly less optimistic about their current business situation, they were more optimistic regarding their business prospects in the coming six months. The Institute stated that, "the German economy made a confident start to the autumn."
FocusEconomics Consensus Forecast panelists expect gross fixed investment to increase 1.3% in 2013, which is unchanged from last month's forecast. Next year, the panel sees investment growth accelerating to 4.0%, which is unchanged over the previous month's projection.
Author: Ricardo Aceves, Senior Economist