German Ifo index shows month-on-month recovery in construction
The Ifo business climate index for German industry and trade shows a considerable improvement for the construction sector over the past six months, the research institute said on Friday November 23.
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Although index values for the sector remained depressed in comparison to levels seen in 2005, the latest survey showed more optimism.
“Construction companies reported a clear improvement in their current business situation and were also more confident about future business developments,” the Ifo said.
The manufacturing sector showed a slight increase month-on-month in November, after six consecutive falls, with export expectations positive for the first time in three months.
Overall, the index made its first rise after falling since May 2012.
“The German economy is holding up in the face of the euro crisis,” the Ifo concluded.