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1st LD Writethru: Germany's Ifo Business Climate Index rises for fifth consecutive month in March

Xinhua, March 25, 2015 Adjust font size:

The Ifo Business Climate Index for industry and trade in Germany rose for the fifth consecutive month from 106.8 points in February to 107.9 points in March, the highest level since July 2014, the Ifo institute reported on Wednesday.

"Companies expressed far greater optimism about future business developments. The German economy continues to expand," Ifo president Hans-Werner Sinn said.

The indexes of business expectations in manufacturing and wholesaling continued to improve, while the index in retailing edged upwards after falling in February.

In contrast, the business climate indicator in contrast continued to fall, but remains at a high level, according to the Munich-based think tank.

"There is still a boom in construction, but it's weakening," Sinn said in his report.

The Ifo Business Climate Index, considered the most important barometer for the German economy, is based on about 7,000 monthly survey responses from firms in manufacturing, construction, wholesaling and retailing. Endit