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German business climate index unchanged in November: Ifo

Xinhua, November 24, 2016 Adjust font size:

The Ifo Business Climate Index for industry and trade in Germany remained unchanged at 110.4 points in November, the same level as last month due to seasonal adjustment correction, the research institute Ifo reported on Thursday.

According to the think tank, surveyed companies were once again more satisfied with their current business situation, but with regard to the coming months they are somewhat less optimistic.

The business climate indexes in wholesaling, retailing and construction all rose. Especially in the sector of construction, the index once again reached a new record high.

However, the index in the manufacturing sector fell. An increased number of companies intend to raise prices in the near future.

"The economic upturn in Germany remains intact. The German economy seems to be unfazed by the election of Donald Trump as U.S. president," Ifo president Clemens Fuest commented.

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