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German business climate index in December rises to highest level since February 2012: Ifo

Xinhua, December 19, 2016 Adjust font size:

The Ifo Business Climate Index for industry and trade in Germany rose to 111.0 points in December, the highest level since February 2012, the research institute Ifo reported on Monday.

According to the think tank, assessments of the current business situation improved and the business outlook for the first half of 2017 is also slightly more optimistic.

The business climate indexes in manufacturing, wholesaling and construction all rose. Especially in the sector of construction, the index continues to break records.

Only the index in retailing remained unchanged in December, but at a high level, the Munich-based institute reported.

"The German economy is in a festive mood," Ifo President Clemens Fuest commented, adding "the German economy is making a strong finish to the year."

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