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German companies tend to recruit fewer employees in March: Ifo

Xinhua, March 25, 2016 Adjust font size:

German companies are increasingly cautious about creating new jobs and plan to recruit fewer employees in March, the Ifo research institute reported on Thursday.

According to the report, the Ifo employment barometer index fell to 107.4 points in March from 108.0 points last month.

The barometer in manufacturing and service sector continue to fall, while construction firms continue to look for new employees thanks to good current business situation, the Munich-based think tank said.

Meanwhile, distributors also plan to recruit, since they believe that consumers are still on a buying spree.

"Nevertheless, the employment dynamic remains slightly positively oriented, as can be seen from the positive balances," the report noted.

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