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German business climate index rises in March

Xinhua, March 23, 2016 Adjust font size:

The Ifo Business Climate Index for industry and trade in Germany rose slightly by one point to 106.7 points in March after three consecutive falls in the last months, the Ifo Institute for Economic Research reported on Tuesday.

According to the Munich-based think tank, assessments of the current business situation have improved, reaching their highest level in six months. Meanwhile, expectations also recovered somewhat after last month's sharp decline.

The climate index in manufacturing, wholesaling and retailing all improved, only the indicator in construction declined somewhat, Ifo reported.

"German businesses are less sceptical than in February," Ifo President Hans-Werner Sinn said, adding that business expectations recovered slightly.

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