independent

Wednesday 16 April 2014

German business confidence rises for a fifth month

Chancellor Angela Merkel smiles behind German flags at the party headquarters in Berlin (AP)
Chancellor Angela Merkel smiles behind German flags at the party headquarters in Berlin (AP)

German business confidence rose for a fifth month in September amid signs the Eurozone economic recovery is continuing.

Based on a survey of 7,000 executives, the Ifo business climate index rose to 107.7 from a revised 107.6 in August.

The figures were somewhat lower than expert predictions though as analysts expected a reading of 108.0.

The Ifo sub-index, which measures companies' expectations for the next six months, also rose in August - from103.3 to 104.2.

Conversely, the current conditions index dropped to 111.4 from 112.0.

Head of business analysis and surveys at Ifo, Kai Carstensen said: "Although companies assessed their current business situation slightly less favorably, their business expectations were once again more optimistic. The German economy made a confident start to the autumn."

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