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German business climate index rises in February: Ifo

Xinhua, February 22, 2017 Adjust font size:

The Ifo Business Climate Index for industry and trade in Germany rose to 111.0 points in February from 109.9 points in January, the research institute reported on Wednesday.

According to Ifo, assessments of the current business situation reached the highest level since August 2011.

Meanwhile, surveyed companies are more optimistic about the months ahead after making a cautious start into the year.

The business climate indexes in manufacturing and wholesaling sectors improved, while the indexes in retailing and construction fell, the Munich-based think tank reported.

"Sentiment among German managers improved this month," Ifo president Clemens Fuest commented, adding "the German economy is back on track."

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