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Outlook for German service sector weakens in February: Ifo

Xinhua,February 24, 2018 Adjust font size:

BERLIN, Feb. 23 (Xinhua) -- Business sentiment in Germany's service sector has weakened slightly for the second consecutive month in February, according to a survey published on Friday by the Ifo Institute for Economic Research.

The closely-watched business confidence index for the sector conducted by the Munich-based institute fell to 110.5 points in February from 111.2 points in January, which was mainly due to markedly less optimistic expectations.

Transport companies, advertising companies, employment and recruitment agencies were all more satisfied with their current business situation, but were slightly more pessimistic about the outlook, according to the survey, based on responses from about 2,500 managers.

"Service providers also intend to recruit more staff," Ifo president Clemens Fuest said in a statement. Enditem

 

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