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German business climate index rises in November

Xinhua, November 24, 2015 Adjust font size:

The Ifo Business Climate Index for industry and trade in Germany rose to 109.0 points in November from 108.2 points in October, the Ifo institute reported on Tuesday.

The climate index in manufacturing rose after a three-month decline, and the sub-index for the automotive sector continued to rise despite the emissions scandal, the Munich-based think tank said.

In addition, the indicator in wholesaling rose to its highest level since January 2014, while the index in construction improved to its highest level since German reunification primarily due to far better assessments of the current business situation, the report added.

However, the business climate index in retailing fell, since retailers were markedly less optimistic about the months ahead than previously.

"The German economy remains unaffected by growing uncertainty worldwide. Not even the Paris attacks had a negative impact on survey data," Ifo president Hans-Werner Sinn said.

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