German business confidence improved further in December, hitting the highest level in almost a year and a half, according to Germany’s Ifo Institute.
Ifo Institute: The Ifo Business Climate Index for industry and trade in Germany rose once again in December. The current business situation, according to the survey responses, is again somewhat more favourable than in the previous month. The business outlook for the coming half year has been assessed similarly as in November. The optimistic and the sceptical outlook assessments nearly balance out. After the dramatic economic collapse last winter, these survey results should bring some Christmas cheer.
The future expectations of German manufacturers, in particular, remain near a 30-month high, as their current environment is improving. Thus it’s clear Germany businesses see an economic recovery.