The Ifo Business Climate for industry and trade in Germany improved slightly in June. The firms are once again more satisfied with their current business situation. With regard to the business expectations for the coming half year, however, for the second month in succession they are somewhat less optimistic. Nevertheless, the business expectations continue to be confident. The economic recovery continues.
In manufacturing the business climate has brightened slightly. The business situation of the manufacturing firms has again improved. For the fourth time in succession the survey participants have assessed their current business situation more favourably. Their optimism with regard to the six-month business outlook has weakened somewhat, however. Exports are not expected to grow as strongly as up to now, but the outlook for foreign business is still regarded as very good. Firms’ employment plans indicate that they intend to keep employee numbers at their current levels.
The surveyed wholesalers are more satisfied with their current business situation. Their business expectations for the coming six months are marked by cautious optimism and remain virtually unchanged in comparison to May. On the whole, the business climate in wholesaling has thus improved somewhat. In construction the business climate index has also risen. The surveyed contractors have appraised their business situation more favourably. They are also more confident than they were in May regarding the business outlook.
In retailing, in contrast to the other survey sectors, the business climate has clouded over somewhat. Although the survey participants are less dissatisfied with their current business situation than they were in May, they are more cautious in their assessments of the six-month business outlook.
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