The ifo Business Climate Index fell in September from 115.9 points to 115.2 points, but still remains way above its long-term average of 102.1 points (as of 1991)....
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ifo Business Climate - Results of the ifo Business Survey for September 2017
Companies were less satisfied with both their current business situation and their short-term outlook than in August. Germany’s economy nevertheless goes into the new legislative period with a strong tailwind.
In manufacturing the index declined markedly. Manufacturers were clearly less satisfied with their current business situation, which nevertheless remains favourable. Their business expectations were also scaled back slightly. Similar developments were seen in several key segments of manufacturing. Production plans, however, remain geared towards growth.
In wholesaling the business climate cooled down somewhat. This was due to less optimistic business expectations. Wholesalers’ assessments of their current business situation were also clearly less favourable. In retailing, by contrast, the business climate index rose, with an improvement seen in both sub-components. More retailers plan to implement price increases. While clothing retailing flourished, car dealers remain plagued by concerns.
In construction the index broke last month’s record. Contractors were more satisfied with their current business situation. They also expressed greater optimism about their business outlook for the months ahead