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Ifo Business Climate Index rises slightly in August in Germany

Xinhua, August 26, 2015 Adjust font size:

The Ifo Business Climate Index for industry and trade in Germany rose to 108.3 points in August from 108.0 points in July, the Ifo institute reported here on Tuesday.

"Satisfaction with the current situation has again increased significantly," Ifo president Hans-Werner Sinn said, adding that German economy continues to be "a rock in turbulent waters."

"However, the companies were somewhat less optimistic regarding future business," he continued.

The climate index in manufacturing and wholesaling have both fallen slightly, while the indicator in retailing and construction each has increased to the highest level since June 2011 and since March 2014, the Munich-based think tank reported.

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