Germany: Businesses' confidence continues to rise in August
August 25, 2015
The business confidence index, elaborated by the Ifo Institute, rose from July’s 108.0 to 108.3 in August. The reading overshot market expectations of a decrease to 107.7 and marked a three-month high.
According to the Institute, August’s improvement reflects that firms were more upbeat about the current business situation, while they were slightly less positive about future business development. Regarding the different economic sectors, sentiment improved in the retailing and the construction sectors, while it moderated in the manufacturing and wholesaling sectors. In the view of the Ifo Institute, August’s print overall suggests that, “the German economy continues to be a rock in turbulent waters.”