The business climate in Germany grew in October, according to the index of the Munich Institute for Economic Research (Ifo), which rose to 30-month high – the highest level since April 2014. In its report, the institute stated that the uncertainty surrounding the potential Brexit continues to decrease.
The business climate index rose to 110.5 points in October, as in September the value was 109.5 points, while expectations were to remain at the same level. The index for the assessment of current economic situation in Germany in September increased from 114.7 points to 115.0 points. It also surpasses expectations for value 114.9 points.
The index of expectations, which focuses on the prospects for the next six months, rose from 104.5 points in September to 106.1 points in October, beating the expectations to remain unchanged.
The institute’s research is conducted among some 7,000 German companies in the sectors of manufacturing, construction, wholesaling and retailing.
more recommended stories
UK manufacturing sector ended 2016 with positive momentum
The UK manufacturing sector ended 2016.
South Korean economy slowed down in Q3 2016
South Korean economy expanded in Q3.
Eurozone economy lost momentum in September 2016
Eurozone economy lost momentum in September.
Chinese consumption and industrial production rose in August
Chinese consumption and industrial production rose.