Arab Today, arab today ifo german business confidence rises for fourth month
Last Updated : GMT 14:52:06
Arab Today, arab today
Arab Today, arab today

Ifo: German business confidence rises for fourth month

Arab Today, arab today

Arab Today, arab today Ifo: German business confidence rises for fourth month

Berlin - AFP

German business confidence rose for a fourth consecutive month in August, data showed Tuesday, boosted by a stronger export outlook and adding to signs of a pickup in Europe\'s top economy. The Ifo economic institute\'s closely watched business climate index rose to 107.5 points this month from 106.2 in July, in a move likely to provide a boost to Chancellor Angela Merkel a month before general elections. Analysts polled by Dow Jones Newswires had predicted an increase, albeit slightly lower, to 107 points. \"Companies are more satisfied with their current business situation. Their optimism regarding future business developments -- although slightly cautious -- also grew,\" the think tank\'s economist Kai Carstensen said in a statement. \"The German economy moved up a gear.\" Ifo calculates its headline index on the basis of companies\' assessments of their current business and the outlook for the next six months. The figures offer further cheer to the German economy after gross domestic product (GDP) expanded by a stronger-than-expected 0.7 percent in the second quarter following zero growth in the first quarter. Growth was driven mainly by domestic demand, with consumer spending and public expenditure both on the rise, and investment was also up on the previous quarter. The Bundesbank said in its June monthly report that German GDP would expand by 0.3 percent in 2013, while the International Monetary Fund has cut in half its forecast for German growth this year, also to 0.3 percent. Companies\' sentiment on both expectation and the current assessment of their business situation rose in August, Ifo said. The sub-index measuring current business increased to 112 points in August from 110.1 points last month, while the outlook sub-index edged up to 103.3 points from 102.4 points. With the battered eurozone now climbing out of recession, the German business climate in manufacturing rose \"significantly\", reaching its highest level since April 2012, the Ifo indicator showed. \"Assessments of the current business situation were considerably better than last month. Business expectations also continued to brighten,\" Carstensen said. \"Firms expect stronger impulses from export business,\" he added. While the business climate index in wholesales improved, it edged downwards in retailing and fell in construction. Berenberg bank economist Christian Schulz noted that the export outlook was \"brightening\" despite difficulties for emerging markets, a slowdown in China and tough Japanese competition. \"Stabilising eurozone and growing US demand, which together account for two-thirds of German goods exports, should offset weaker developments elsewhere,\" he said. Jennifer McKeown, an economist at Capital Economics, said the sharper-than-expected rise \"adds to encouraging signs that the economy is recovering\". But she said the fall in the construction index seemed to indicate that the sharp second-quarter rise in activity \"was a temporary bounceback from bad weather\" in the previous three-month period. \"And the fall in the retail index is a reminder not to put too much faith in German consumers. Nonetheless, it seems that a moderate recovery is finally underway,\" she said. UniCredit economist Alexander Koch said the data indicated a bright horizon. \"Looking ahead, the latest business sentiment readings confirm our view that the German economy will be able to maintain a somewhat more moderate but still robust momentum in the second half of 2013 following the exceptional rebound in the spring,\" he said.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today ifo german business confidence rises for fourth month Arab Today, arab today ifo german business confidence rises for fourth month

 



Arab Today, arab today
Arab Today, arab today Rabia Fatima reveals role of "Facebook" in her career

GMT 13:47 2017 Friday ,24 February

Rabia Fatima reveals role of "Facebook" in her career
Arab Today, arab today Messi visit will contribute in tourism

GMT 14:04 2017 Friday ,24 February

Messi visit will contribute in tourism
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Mental conflict endures

GMT 07:36 2017 Friday ,24 February

Mental conflict endures
Arab Today, arab today Media host Mona Iraqi stresses her show's success

GMT 15:32 2017 Wednesday ,22 February

Media host Mona Iraqi stresses her show's success
View News in Arabic - Business: عقارات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today To hold social dialogue over secondary school

GMT 07:43 2017 Wednesday ,22 February

To hold social dialogue over secondary school
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Wafaa Amer is happy for Sherihan’s return

GMT 07:36 2017 Wednesday ,22 February

Wafaa Amer is happy for Sherihan’s return
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 05:19 2017 Tuesday ,21 February

Salma Rashid happy for 'A Whisper of Love'

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 07:51 2017 Wednesday ,22 February

Mom's immune system accepts babies

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 14:29 2017 Monday ,20 February

Prepares to present her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday