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German firms recruit fewer employees in February: Ifo

Xinhua, February 25, 2015 Adjust font size:

German firms were slightly less willing to recruit new staff members in February, the Ifo research institute reported here on Wednesday.

The Ifo employment barometer index fell to 106.8 index points in February, down from 108.1 index points in January, which was the highest value since March 2012.

The Munich-based think tank said in its report that the employment barometer in the manufacturing sector rose for the third consecutive month, citing capital goods manufacturing and the food industry as the main drivers.

Compared to the retailers' willingness to hire more staff, wholesalers adopted a more cautious approach, and construction firms also remained reticent about recruitment due to the winter weather, according to the report.

In addition, service providers were also less inclined to hire additional staff this month following a strong performance in January.

Ifo is one of Europe's leading research institutes. Its business climate index is considered the most important barometer for the German economy. Endit