German business mood at high
By Geir Moulson |
January 22, 2011, Saturday
|
Print Edition
Print Edition
GERMAN business confidence has risen to a new two-decade high, exceeding expectations as an increasingly broad-based recovery in Europe's biggest economy shows no signs of slacking, a survey showed yesterday.
The Ifo institute's monthly confidence index rose to 110.3 points in January from 109.8 in December. It was the eighth consecutive increase, the highest figure since Ifo started measuring business confidence in reunited Germany in 1991, and exceeded economists' forecast of a slight rise to 109.9.
The German economy rebounded strongly in 2010, growing by 3.6 percent as a recovering global economy fueled a surge in exports - a traditional German strength - and domestic demand showed signs of improvement.
The government this week raised its growth forecast for this year to 2.3 percent from 1.8 percent.
Ifo found that businesses' outlook for the next six months improved in January, with a sub-index measuring that rising to 107.8 points from 106.8. A component measuring their current situation dipped slightly to 112.8 from 112.9.
Manufacturers led the brighter outlook, and Ifo said: "Especially in exports, (they) see much greater opportunities."
The Ifo institute's monthly confidence index rose to 110.3 points in January from 109.8 in December. It was the eighth consecutive increase, the highest figure since Ifo started measuring business confidence in reunited Germany in 1991, and exceeded economists' forecast of a slight rise to 109.9.
The German economy rebounded strongly in 2010, growing by 3.6 percent as a recovering global economy fueled a surge in exports - a traditional German strength - and domestic demand showed signs of improvement.
The government this week raised its growth forecast for this year to 2.3 percent from 1.8 percent.
Ifo found that businesses' outlook for the next six months improved in January, with a sub-index measuring that rising to 107.8 points from 106.8. A component measuring their current situation dipped slightly to 112.8 from 112.9.
Manufacturers led the brighter outlook, and Ifo said: "Especially in exports, (they) see much greater opportunities."
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