Germany: Businesses' confidence improves in July
July 28, 2015
The business confidence index, elaborated by the Ifo Institute, rose from June’s 107.5 to 108.0 in July. The reading came in above market expectations of a decrease to 107.2.
According to the Institute, July’s print reflects that firms were more upbeat regarding the current business situation, following last June’s moderation. They were also slightly more positive about future business development, which marks a turnaround after three months of moderations. In the view of the Ifo Institute, the improvement in sentiment above all reflects, “the recent easing of the Greece situation.” Regarding the different economic sectors, business sentiment increased in manufacturing and in wholesaling. Conversely, sentiment in the retailing sector and construction deteriorated in July.