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Ifo: German companies tend to recruit for 3rd consecutive month in Oct.

Xinhua, October 29, 2015 Adjust font size:

German firms are willing to recruit in October for the third consecutive month, the Ifo research institute reported Wednesday.

According to the report, the Ifo employment barometer index rose from 108.6 points in September to 109.1 points in October, reaching its highest level since January 2012.

"Labor market figures will thus continue to develop positively," the report noted.

Service providers in particular are looking forward to recruiting additional employees. The barometer in service sector climbed to its highest level since April 2011, the Munich-based think tank reported.

The employment barometer in wholesaling, retailing and construction all rose despite the approach of winter, while the dynamic remains weak in manufacturing.

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