Business climate – economy inspires hope – economy
The mood in the executive floors of German companies brightened in December for the third month in a row. The Ifo business climate index rose to 88.6 points from the revised 86.4 points in the previous month, as the Munich-based Ifo Institute announced in its survey of around 9,000 executives. Economists polled by Reuters had only expected 87.4 points. Companies were more satisfied with current business: this situation indicator had previously fallen six times in a row. Expectations also improved noticeably. “The German economy draws hope at Christmas,” said Ifo President Clemens Fuest.