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German business climate index continues to rise in June: Ifo

Xinhua, June 24, 2016 Adjust font size:

The Ifo Business Climate Index for industry and trade in Germany rose to 108.7 points in June from 107.8 points in May, the research institute Ifo reported on Friday.

According to the Munich-based think tank, sentiment in the German economy improved significantly ahead of the Brexit referendum.

The business climate indexes in manufacturing, wholesaling and construction sectors all improved, only the index in retailing fell, which remains far above its long-term average.

"Satisfaction levels with the current business situation were only slightly higher, but the short-term business outlook improved significantly," Ifo president Clemens Fuest said.

"The German economy remains buoyant," he added.

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