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German business climate index falls in January: Ifo

Xinhua, January 25, 2017 Adjust font size:

The Ifo Business Climate Index for industry and trade in Germany fell to 109.8 points in January from 111.0 points in December, the research institute Ifo reported on Wednesday.

According to the think tank, surveyed companies were more satisfied with their current business situation, but were less optimistic about their six-month business outlook.

The business climate indexes in manufacturing, construction, wholesaling, and retailing all cooled down, the Munich-based think tank reported.

"Sentiment among German managers weakened in January," Ifo president Clemens Fuest commented, adding "the German economy made a less confident start 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