German business confidence rises for a fifth month
Published 24/09/2013 | 10:42
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."